Guide discussion: Tax-Free Childcare

Krissy306

I’m in the same boat as you, I could do with knowing the answer to this

espy81

Hi. I have the exact same questions. Did you manage to find an answer to yours?

Krissy306

I didn’t but I’m guessing we get no help

sheepworrier

With nurseries being closed during the pandemic I’m thinking of pausing my quarterly payments into TFC. Do you know if this is allowed and you can then resume at a later date?

RecycleAnimals

I only signed up to add to this conversation, but mostly to ask the same questions, that people have had right from the start and see, if anyone has had any experiences since:

1. how long can money be kept for in the TFC account before it is used to pay someone? some  in this thread asked about pre-loading the account to maximise the governmental top-up before one's child goes into childcare etc.
2. Follow up on 1.: does the top-up seize at some point when doing so?

Any insights would be great from people that have used it over the last couple of years.

sheramber

RecycleAnimals said:

I only signed up to add to this conversation, but mostly to ask the same questions, that people have had right from the start and see, if anyone has had any experiences since:

1. how long can money be kept for in the TFC account before it is used to pay someone? some  in this thread asked about pre-loading the account to maximise the governmental top-up before one's child goes into childcare etc.
2. Follow up on 1.: does the top-up seize at some point when doing so?

Any insights would be great from people that have used it over the last couple of years.

Information here
https://www.childcarechoices.gov.uk/guides/parents-using-your-account/

RecycleAnimals

RecycleAnimals said:

I only signed up to add to this conversation, but mostly to ask the same questions, that people have had right from the start and see, if anyone has had any experiences since:

1. how long can money be kept for in the TFC account before it is used to pay someone? some  in this thread asked about pre-loading the account to maximise the governmental top-up before one's child goes into childcare etc.
2. Follow up on 1.: does the top-up seize at some point when doing so?

Any insights would be great from people that have used it over the last couple of years.

Thanks, just to have it here as well, in case others are looking for it. From the document linked in the previous post:

There’s no set time for using your government top-up(s). You can save them in your childcare account(s) for when you need them most, for example, you can use the money you’ve built up to pay for childcare during the school holidays.

Anonymous101

RecycleAnimals said:

RecycleAnimals said:

I only signed up to add to this conversation, but mostly to ask the same questions, that people have had right from the start and see, if anyone has had any experiences since:

1. how long can money be kept for in the TFC account before it is used to pay someone? some  in this thread asked about pre-loading the account to maximise the governmental top-up before one's child goes into childcare etc.
2. Follow up on 1.: does the top-up seize at some point when doing so?

Any insights would be great from people that have used it over the last couple of years.

Thanks, just to have it here as well, in case others are looking for it. From the document linked in the previous post:

There’s no set time for using your government top-up(s). You can save them in your childcare account(s) for when you need them most, for example, you can use the money you’ve built up to pay for childcare during the school holidays.

So in theory is it possible to begin paying into the account upon the birth of a child in the knowledge that you may not incur any childcare costs until the child is 12 months old?

Its not clear in the guidance I've seen that the balance can sit for extended periods of time spanning multiple tax years.
The guidance as mentioned previously just says "when you need them most". What if I need them most in 2 years time?

pas462

Carlos77 said:

How does is work if one of us has a childcare voucher scheme through work and one of us doesn't? Could my partner keep her child voucher scheme the money she puts into it, and open a 'tax free' on myself to pay the rest of the childcare from? can't seem to find any guidance on this

Did anyone find an answer to this query?

sheramber

pas462 said:

Carlos77 said:

How does is work if one of us has a childcare voucher scheme through work and one of us doesn't? Could my partner keep her child voucher scheme the money she puts into it, and open a 'tax free' on myself to pay the rest of the childcare from? can't seem to find any guidance on this

Did anyone find an answer to this query?

No, you cannot use both systems 
https://www.gov.uk/tax-free-childcare