Should I switch to tax free childcare?


Apologies if I haven't put this in the right category, but I'm hoping someone can help!

I've recently returned to work after maternity leave and kept my childcare vouchers as £1 per month during that time but now want to increase it to the £243 per month limit to help with the cost of childcare. I'm wondering whether to switch to the new tax free childcare scheme but have some concerns and not sure where to find answers.

Our childcare costs per month will be between £442-£663 per month, and using the calculator online this would save us between £1,060-£1,591 a year on the new scheme, and only £933 year on the childcare vouchers (only I contribute to them). On the surface it seems like a no brainer to switch; however, my husband is on a zero hour contract (and is a student) so we cannot guarantee that he will earn the minimum £140 per week that each of us need to earn.

What happens if he doesn't earn this and we've switched to the tax free scheme? Am I best staying on the childcare voucher scheme whilst his earnings aren't fixed?

Also, just to add, this is only the costs of childcare for our youngest. Our eldest may in the future have a small amount of childcare costs (after school clubs, for example) but whilst I'm still working from home, our costs for him are £0 at the moment.

I hope that makes sense and someone can help  :)
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