Has anyone who uses Childcare Vouchers looked at the Tax Free Childcare scheme?

It appears this is now open to families with kids under 4. My quick assessment suggests we’d be better off under this scheme. Has anyone already changed? Is there an online tool that I can use to ensure I’m comparing the costs correctly?

Cheers,

Paul

I’d imagine moneysavingexpert forum would be a good port of call.

We’ve changed to Tax Free after preregistering for the trial – it hasn’t fully rolled out yet.
It worked for us as I went from a my one my ltd company to a partnership and my partner doesn’t need the vouchers.
The first payment to the nursery was last week, we warned them that we were changing and we haven’t heard anything so I assume it worked. The online system is typical government rubbish – you need a government Gateway ID to use it, it’s not intuitive, the helpline isn’t too bad though.
There is a tool on the government site [/url]
To use taxfree childcare basically you have an account which you pay into and the government then add 20% to it and pays the childcare provider direct. The amount they add 20% to is limited to a certain amount per year but you can put it all the fees so you don’t have to pay the nursery from 2 different voucher schemes for each parent and top up with your bank account as.

Currently on childcare vouchers. There are calculators which work out which is better for you. Have asked if divorced parents can opt for one scheme each, which would be nice.

Just stopped the childcare vouchers and my kids no longer need them, was pleasantly surprised to find I had £1550 in the account and it is being paid back to me (with tax and NI reductions).