The move is a blow to childcare voucher companies, as the current voucher schemes will be phased out and closed to new entrants when TFC is introduced.
The Government has chosen the NS&I to manage the Tax-Free Childcare scheme when it is introduced in autumn 2015.
The Government had initially planned for NS&I to deliver the Tax-Free Childcare accounts, but a legal challenge from childcare voucher companies led the Treasury to launch a five-week consultation on its delivery in May.
TFC will provide support of up to £2,000 a year for each child for households where parents earn up to £150,000 a year each and a minimum of £50 a week.
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