Childcare Choices.

Proppo

Hi,

I'm really struggling to see what is my best option for Childcare support. Our daughter currently goes to nursery 4 days a week and the payments are going up to around £960 a month. My partner currently recieves Childcare Vouchers for the maximum possible (240 or so), but my employer doesn't offer that. I've seen there is Tax-Free Childcare, but I don't think I can claim that because my partner is claiming childcare vouchers? Are we better off cancelling her childcare vouchers and going for Tax-Free Childcare (saying £500 per 3 months saving), compared to what we actually save from the Childcare vouchers?

Any help would be greatly appreciated.

Thanks
Shane

Darksparkle

https://www.gov.uk/childcare-calculator

Paparika

https://www.giveyourselfachoice.com

This explains all choices for your family.

Proppo

On the Childcare Calculator, it says Upto £2000 a year Tax Free Childcare or 933 a year Childcare vouchers. I guess I need to look into wether my Employer can offer childcare vouchers. As we can both claim Childcare Vouchers on each of our salaries? Really unsure which is most beneficial. Seems like costs are going up and up but our salaries really aren't. Spending so much on Childcare!

Icequeen99

Proppo wrote: »

On the Childcare Calculator, it says Upto £2000 a year Tax Free Childcare or 933 a year Childcare vouchers. I guess I need to look into wether my Employer can offer childcare vouchers. As we can both claim Childcare Vouchers on each of our salaries? Really unsure which is most beneficial. Seems like costs are going up and up but our salaries really aren't. Spending so much on Childcare!

TFC is up to £2000 a year - how much you get depends on your actual childcare costs.

You need to use the calculator that was shown above - it should give you an idea as long as your childcare costs are not variable. You can try it with 1 employer allowing childcare vouchers and then if both do.

IQ

sheramber

Be Aware

If you apply for Tax-Free Childcare, you won't be able to get:

Child Tax Credit
Working Tax Credit
Universal Credit
childcare vouchers from your employer

Paparika

sheramber wrote: »

Be Aware

If you apply for Tax-Free Childcare, you won't be able to get:

Child Tax Credit
Working Tax Credit
Universal Credit
childcare vouchers from your employer

where is that posted? that's interesting.

Darksparkle

Paparika wrote: »

where is that posted? that's interesting.

https://childcare-support.tax.service.gov.uk

Parents can't use Tax-Free Childcare at the same time as they receive childcare vouchers, Universal Credit or tax credits. However, 30 hours free childcare can be received alongside these schemes.