TFC
Hi please can anyone advise on Tax free childcare deposits etc. Do you deposit the reduced amount into your account how does it work i’m so confused and i bet it’s really not that hard aswell lol 🙈
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There are calculators online that can work out how much you need to put in, I use this one https://taxfreechildcarecalculator.com/. As soon as it appears in your childcare account the top up appears there too.
You pay in the reduced amount and the government pays in the top up within a day or so. Then you use the account to pay the nursery c
If you divide the amount on your nursery bill by 100 and then times it by 80 that’s how much you need to transfer into your tax free childcare account. And once it is in you’ll get the top up then be able to tfr from there :)
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Set up the account on the gov website Transfer the reduced amount from your bank into the gov website account Use the gov website account to pay the nursery etc