Tax free childcare account
Using this for the first time, how does it work? Do I put the nursery fees minus 20% and wait for the government to top it up? If so, how long does it take to get the top up?
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@Becky thank you, I was just worried that 20% of the lower amount I put in wouldn’t work out the same but maybe I’m overthinking it!
I’ve been pleasantly surprised at how efficient it is 👍if you do get your calculations wrong you can always put a bit more in if needed
It’s really easy to work out, when you get your invoice, multiply the total by 0.8 and then that’s the amount you pay into your account ☺️
Thanks everyone ☺️
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Yeah, I just pay the nursery fees minus 20% into my account. It can take up to 24 hours for the top up to be added, but it's usually quicker than that.