I being on tier-1 and spouse as dependent, does this TFC scheme falls in public fund?
Or, it does not because it is connected to 'when you earn, then gov adds it as tax relief'.
Really appreciate any reference material to point to either direction or how to confirm it.
The new TFC scheme will be introduced from Autumn 2015 and will allow eligible parents to save up to £2000 per child on their annual childcare bill.
• Parents will be able to open an online account, which they can pay into to cover the cost of childcare with a registered provider. This will be administered by National Savings and Investments rather than their employer.
• The government will top up the account with 20% of childcare costs up to a total of £10,000 - the equivalent of up to £2,000 support per child, per year. So for every 80p the parent or someone else pays in, the government will top up an extra 20p.