The figures for the last quarter – up to 31 March 2021, show that while the number of parents with a Tax-Free Childcare (TFC) account has increased, a total of 48 per cent are actually using it.
As of March, 282,000 families used TFC, compared with 248,000 families in December 2020.
According to the figures from HMRC, the percentage of open TFC accounts being used were steadily increasing until April last year when they fell sharply due to the Covid-19 pandemic and restrictions put in place to reduce the spread of the virus.
They show that during the first Covid-19 lockdown there was a ‘significant’ decrease in account use from 45 per cent in March 2020 to only 13 per cent two months later.
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