Contributions to Tax-Free Childcare accounts rise but many parents aren't using the scheme

Fewer than half of open Tax-Free Childcare accounts are used - could you be missing out?

Mum and child with piggy bank
(Image credit: Getty Images)

Increasing numbers of parents are putting money into government-backed Tax-Free Childcare (TFC) accounts to help with childcare costs but many eligible families are still not making full use of the accounts.

The government launched TFC accounts in 2017 to replace childcare vouchers.

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Marc Shoffman
Contributing editor

Marc Shoffman is an award-winning freelance journalist specialising in business, personal finance and property. His work has appeared in print and online publications ranging from FT Business to The Times, Mail on Sunday and the i newspaper. He also co-presents the In For A Penny financial planning podcast.