Guide discussion: Tax-Free Childcare

Former_MSE_Sam_M · 14 March 2017 at 4:56PM

[URL="hhttp://www.moneysavingexpert.com/family/tax-free-childcare"]Tax-Free Childcare[/URL] guide.

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brencollins · 22 March 2017 at 2:27PM

how does it work if get an occupational pension? if childcare vouchers come off your salary that is matched for pension purposes, do they reduce your matched pension payments from your employer? does it work the same way with tax free childcare or is that paid after your salary has been paid?

Carlos77 · 22 March 2017 at 7:21PM

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

Wul100 · 23 March 2017 at 10:36AM

Hi - I have read through the article regarding the new HMRC Childcare Scheme - does anyone know if it is releasing UK wide in April or just England? I am in Scotland FYI. Thanks

wedgefish · 26 March 2017 at 9:26PM

I am a single Parent to Three young Children, My annual salary is £25,000 and I am currently paying a registered childminder £120 a week each to look after my children full time while I am at work. (£360 total a week)

I am currently using childcare vouchers which equate to £55 a week of the £360 bill, the remaining amount is subsidized though the childcare element of working Tax credits and my own expense.

My question is this new tax free childcare that is starting in April, will it have any effect on the childcare element of the working Tax credits?

regards David

Wiz10 · 4 April 2017 at 9:07PM

Whilst tax free might be the best option whilst I have high childcare costs overtime, my childcare costs are going to reduce over time. The lower costs mean the voucher scheme works out better once my child reaches school age. Is there any advice out there that can look at your childcare costs over say 10 years and tell you what option is best?

The_Enforcer · 22 April 2017 at 11:36PM

I have recently joined my employer's child care voucher scheme. I am in the process of arranging with my employer to pay for 11 backdated vouchers for the 2016/17 tax year as my first voucher came out of my March payslip and I was eligible for 12 months' worth of vouchers.

If I was able to buy these vouchers before joining the Tax Free Childcare Scheme does anyone know if I would I still be able to use them after I have quit the voucher scheme and have started making payments into the TFCS?

Cheers,
TE

lucyjallen08 · 26 April 2017 at 8:18AM

Hi anyone know the answer! I'm employed and salary sacrifice for child care vouchers, my partner is self employed, anyone know if i can continue to do childcare vouchers and he can enter onto the new scheme?? I figure that we could both opt to do childcare vouchers so surely it should be allowed but I cant seem to see the answer

thanks

tasha42 · 26 April 2017 at 1:53PM

Has any one successfully opened an account? I went through all the process online and said it would be consider.

I didn’t get any confirmation email so wanted to be sure it had gone through , so phoned their helpline. They couldn’t even check if it had gone through just said I am sure if you got to that page it did go through and now its being considered. When I asked what’s the timeframe to wait for to be processed she said there isn’t one and it could be weeks before its even looked at arghhhhh

.

Thanks

The_Enforcer · 26 April 2017 at 8:02PM

lucyjallen08 wrote: »

Hi anyone know the answer! I'm employed and salary sacrifice for child care vouchers, my partner is self employed, anyone know if i can continue to do childcare vouchers and he can enter onto the new scheme?? I figure that we could both opt to do childcare vouchers so surely it should be allowed but I cant seem to see the answer

thanks

I was advised that a household can only claim either salary sacrifice or tax-free childcare. The guidance also explains that you have to quit the salary sacrifice scheme within 3 months of opening the tax-free childcare account.

I asked the Childcare Choices helpline about my query, but whilst they were quite clear about ceasing claiming salary sacrifice vouchers they were not clear about using vouchers already claimed.

I asked my salary sacrifice provider and they gave me the following answer:

[FONT=&quot]"I can confirm you can still access and spend your vouchers even though you have left the scheme."[/FONT]

My next step is to contact the nursery and check that they will accept payments from both salary sacrifice and tax-free childcare simultaneously accounts.

The_Enforcer · 26 April 2017 at 9:07PM

tasha42 wrote: »

Has any one successfully opened an account? I went through all the process online and said it would be consider.

I didn’t get any confirmation email so wanted to be sure it had gone through , so phoned their helpline. They couldn’t even check if it had gone through just said I am sure if you got to that page it did go through and now its being considered. When I asked what’s the timeframe to wait for to be processed she said there isn’t one and it could be weeks before its even looked at arghhhhh .

Thanks

We applied at the weekend and my wife got a text saying to log in. The account has been created and we can pay money in.

Guide discussion: Tax-Free Childcare

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