Home & Garden1 min ago
Tax Free Childcare Accounts
70 Answers
i am not think but i have a very hard time understanding the amounts the govt pay into my account. I put the exact same amount in every month (946.40) yet the put in varying amounts
Last month they put in £236.60, the month before 92.34, the month before 207.37. Once i did a payment of £1 just to see and they put in 52.09!
Anyway, does anyone know when the periods run to and from or is it dependent on when you opened it? anyone else have these problems?
Last month they put in £236.60, the month before 92.34, the month before 207.37. Once i did a payment of £1 just to see and they put in 52.09!
Anyway, does anyone know when the periods run to and from or is it dependent on when you opened it? anyone else have these problems?
Answers
There's a 3-month cycle. During that cycle you get £1 from the Government for every £4 you pay in yourself. (i.e. their contribution is a quarter of your own one). £946.40 divided by 4 = £236.60, so that's one contribution explained and it's almost certainly the first month of a cycle. However there's a cap of £500 per 3-month cycle on what the Government...
17:55 Wed 11th Sep 2019
child benefit/family allowance started in 1946.
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Family allowance in 1956 was ---nothing for the first child ,8/-(40p) for second and I think it was 10/-(50p) for each subsequent child. In 1977 it changed to include payment for the first child as well.The word 'benefits' was unheard of back in the 50s. Back then you could do a helluva lot more with your money than you can today . I could take the train from my local town into Bury ,do a weeks shopping and have change from five pounds.I don't envy the young of today ,it must be a nightmare for some .
As previous posts have pointed out bednobs was only making a query.
As previous posts have pointed out bednobs was only making a query.
>For thirty or more years my wife and I helped her kids and grand-kids without asking a stranger to chip in. It's difficult to work out the attitudea of the smirking spongers, far less to admire them.
No child benefit (family allowance) or state schools then or free NHS treatment, for your wife's kids then, V-E?
No child benefit (family allowance) or state schools then or free NHS treatment, for your wife's kids then, V-E?
this post really did make me chuckle last night and having read through it again, it's provided me with no end of entertainment.
Thanks Buenchico, what you say makes sense - i did a quick calculation last night to check the overall amounts and thankfully they don't exceed£500 per quarter (i was slightly concerned when the £50 went in after i'd put in £1 that there may have been a mistake) so overall it's ok
Thanks Buenchico, what you say makes sense - i did a quick calculation last night to check the overall amounts and thankfully they don't exceed£500 per quarter (i was slightly concerned when the £50 went in after i'd put in £1 that there may have been a mistake) so overall it's ok
