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Tax free childcare versus childcare voucher savings calculator

Tax-Free Childcare (TFC) is a proposed government scheme which will replace the existing childcare voucher scheme in early 2017. Existing members of the current employer supported childcare voucher scheme will be able to stay in the existing scheme for as long as required but no new entrants to the childcare voucher scheme will be permitted. Under the new government Tax-Free Childcare scheme, eligible families will receive 20% of their annual childcare costs up to a maximum of £10,000 of registered childcare giving a maximum saving per child up to the age of 12 of £2,000 ( or £20,000 of registered childcare giving a maximum saving per disabled child up to the age of 17) , which would be paid for by the government.

The calculator compares a family’s savings with Tax free childcare versus employer supported childcare vouchers.

For more information about Tax Free Childcare and the key things parents need to know, click here.

Personal Details

Your family


About you

Depending on your tax rate the maximum amount of childcare vouchers you are entitled to will vary as follows:

Basic rate taxpayer: £2,916 pa
Higher rate taxpayer: £1,484 pa
Additional rate taxpayer: £1,325 pa

About your partner

Depending on your partner's tax rate the maximum amount of childcare vouchers they are entitled to will vary as follows:

Basic rate taxpayer: £2,916 pa
Higher rate taxpayer: £1,484 pa
Additional rate taxpayer: £1,325 pa

Tax credits and your child's details

Results

No. of working parents
No. of self-employed parents
No. of children between 0 - 12 using registered childcare
No. of children between 12 - 15 using registered childcare
No. of children between 15 - 17 with a disability using registered childcare
AnnualMonthlyWeekly
Childcare Voucher Scheme total Family Tax & NI Saving
NEW TAX-FREE CHILDCARE SCHEME total Family Tax Saving
New Tax-free childcare difference vs childcare voucher scheme

Terms and conditions

Welcome to the Allsave’s Tax-Free Childcare and Childcare Vouchers Savings Calculator developed by Allsave Benefits. We hope it will help you to determine financially whether you should join or stay in your organisation's Childcare Voucher scheme or join the Government’s new Tax-Free Childcare scheme.

Allsave’s Tax-Free Childcare and Childcare Vouchers Savings Calculator provides an estimate only, based on the information that you provide at a given point in time. The output of the above calculator is for your personal use.

The calculator has been designed for comparative purposes only and therefore complete accuracy cannot be guaranteed. The calculator does not account for any benefits in kind that you may receive from your employer. It assumes that you are contracted in for National Insurance purposes.

As Tax-Free Childcare has not been finalised by the government, the rules and eligibility criteria may be subject to change.

It is ultimately the responsibility of the individual to look into each scheme and check the details before making a final decision as to which will offer the greatest savings.