You want to employ a nanny and you’re setting out your budget. Here are some costs you need to consider…
What you pay your nanny – this is known as the net wage. You may be able to get childcare vouchers which can go towards paying this amount.
Frequency – weekly or monthly (we recommend monthly to simplify reporting to HMRC)
What you pay on behalf of your nanny – this is tax, National Insurance and (depending on your staging date) work based pension contributions. This combined with what you pay your nanny is the gross wage.
