10. You’ll be able to withdraw money from the account if you want to
If your circumstances change or you no longer want to pay into the account, then you’ll be able to withdraw the money you have built up. If you do, the government will withdraw its corresponding contribution.
More information will become available ahead of the scheme being introduced so parents making childcare decisions are able to consider all their options.
HM Treasury’s infographic explains how the scheme will run .
CIPP and CIPD joint survey on Tax-Free Childcare delivery model
28 May 2014
Do you have an opinion on which provider the government use to deliver Tax-Free Childcare? Please take five minutes to share your views.
The Tax-Free Childcare: consultation on childcare account provision has been published to seek views on options for the government to deliver Tax-Free Childcare itself, through National Savings and Investments (NS&I), or within HMRC or via other account provider options.
Publishing this consultation means that all interested parties will have had an opportunity to comment on all of the options for account provision across public and private sectors.
Whilst there is no mandatory role for employers, we are aware that some employers may wish to provide support to the their employees by making deductions from net pay which will then be paid over to account providers. In this instance, a software solution will be required, which may be found in existing payroll software or it may have additional data requirements. The CIPP Policy team and the CIPD have put together a very brief survey to gather any views from interested parties. The survey should take no more than five minutes to complete and will close on 20 June 2014.
The government will consider responses to this consultation alongside the response to the previous consultation before it makes its final decision on the provision of childcare accounts.
Full details of account provider options can be found in the original Tax-Free Childcare: consultation on design and operation .
CIPP response to Tax-Free Childcare: consultation on childcare account provision
1 July 2014
The CIPP have submitted a formal response to the Tax-Free Childcare: consultation on childcare account provision.
The consultation has run for five weeks and closed on 27 June 2014. It looked to gather views on the issues and assessments, on options to deliver tax-free childcare accounts, along with the proposal for government to provide a single childcare account for employees through National Savings and Investments (NS&I) or within HMRC. Recognising that under the tax-free childcare regime there is to be no mandatory role for the employer, but that employer involvement is being encouraged and enabled, CIPP published a small survey, in partnership with the Chartered Institute of Personnel & Development (CIPD), which looked to establish views from members and employers on their openness to
CIPP Policy News Journal
08/04/2015, Page 170 of 521
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