Tax free childcare
For those that receive tax free childcare in my account it says I have £450 left available for this period. It says I need to reconfirm between the 24 November to 24 December. Does that mean that if I don’t put enough in the account to use the £450 top up then will this expire on the 24 November or the 24 December. My next payment to nursery will be on the 1st Nov and 1st Dec but will only total £328 so want to make sure I use the whole amount.
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Ah lovely thanks wasn’t sure if then the next three months the money entitlement would go down. Makes sense now just wanted to make sure that we are using it to the best we can
When would you reconfirm after then next payment on the 1st December?
It’s so complicated, isn’t it?! Took me a while to get my head round it x
It doesn’t make any difference when you reconfirm within the given time period. They are just checking your circumstances haven’t changed x
Definitely really confusing! Thanks for the help
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So, this is how I understand it (sorry if I’m wrong)… …It doesn’t mean you’re automatically entitled to that £450. Government will only top up 20% of your fees. So it’s not like the actual money is expiring because it was never yours to begin with. It’s just the upper limit you could possibly get. The upper limit to how much the government will subsidise you is £500 every three months. So say someone also had £450 left available but their fees were higher than this, they would get the £450 but would then have to pay the remaining nursery fees themselves with no 20% government top up. You are not actually losing anything. After reconfirming for the next time period the upper limit will reset and the amount left available will be higher again but it doesn’t mean you’re getting all that money, just that that’s the maximum top up you could possibly get. If your fees are £328 per month, you are only entitled to 20% of that as a top up. Hope this makes sense x