Tax free childcare - so confused!
Hi everyone
I've been reading about tax free childcare and it says we can get up to £500 in three months. I thought we would get 20% off each month but it's not the case, right? So for example if my reduction in month 1 is £250, and then again £250 in the 2nd month, that means in the months 3 I get no reduction, right?
Thank you!
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Its capped at £500 every 3 months, £2000 per year x
Correct. To avoid those jumps, you can pay equal amounts - if your fee is 1500, then it's 3x1500=4500 - 500= 4000/3 = 1334
Thanks all
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I believe so. My husband manages the account, but if I recall correctly, we got the £500 in the online account all at once and then we just take a third of it each month for our “top up”