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Tax free childcare help

1 reply

Msplove · 19/03/2024 06:48

Hello all
I have just set up my tax free childcare account and deposited £1500 which triggered a release from government of £375.

It says "You can get a maximum government top-up of £489.01 for this entitlement period. You've £114.01 left for this period." But I thought it was £500. Can anyone help me on this?

Also if at the end of the 3 months I have overpaid into my childcare account, can I withdraw?

Thanks

OP posts:
Are your children’s vaccines up to date?
Superscientist · 19/03/2024 12:57

Yes. it's usually £500. I think it is one of those benefits that's a yes/no situation so I don't think it's typical to partially qualify and have a reduced amount.

You can withdraw draw the money you have put in at any point but you lose the government top up.

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