Tax free childcare

Hey So I’m after some advice as my brain just doesn’t want to work lately 🤯 I’ve set up the account for my sons nursery on the government website. When we receive the invoice from the nursery do I just pay 80% of it into the account and then do they top it up? How long does it take etc just so I give myself plenty of time before the payment is due. Thank you! X

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You pay the money into the government account from your bank account and they will add 20% of what you put into the government account. Then you can use the total funds to pay directly to the nursery from the government account. I can't remember how long it took for the funds to clear but I don't remember it taking more than a day or two

I put 100% of the invoice in, the government tops it up, I pay the fees, and then withdraw what’s left in the account back into my own bank account. It takes a few days to clear especially over a weekend

When you pay into your childcare account there are two ways of doing it. One is like a payment with a sort code and account number and I think the other is where you pay with your card. If you do the transfer option, it usually clears within the same day if you do the card option I think it's about 2 days. I get my invoice and do the amount x 0.8 and then transfer that amount in and the government top it up. Hope that helps :)

Yes you pay 80% into the account and government tops it up x hope that helps x

Thank you all, I’ve set up the account up now & it all seems to make sense now xxx

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