Can someone tell me what impact adding a child to a nannys responsibility has financially? If I was to get a nanny and then have a friends child come to mine to share cost, I presume it wouldn't be double to look after 2 right?
Not double but I am not sure how you go about calculating the costs. The nanny may well want a bit more as they need to juggle the different needs of each family. You would need to decide with the other family whose home is used, or if you would alternate homes in some way. Who supplies what equipment, who supplies food, that soft of thing. You and the other family would need a formal agreement about such matters and about things like how holidays would be managed, such as what if one family wanted to go on holiday but the other did not and thus still needed the nanny. What happens to end the agreement, notice required, how payment is settled - some payment may be due long after the agreement ends, such as end of the financial year. Would it be one PAYE scheme or two (I think MrAnchovy has written about the most cost effective way to do a nannyshare payroll wise).
I have to disagree, I'm also in NappyValley and I haven't seen a drop in share wages to £10/h. I wouldn't do one for that, when the rate for just one family is the same. Where's the incentive to take on all that extra work?
Blonde & super - the incentive is to have a job (but see comments below)!! There are loads of people looking for nanny work and def more than the number of jobs but Who can afford a nanny these days? No payrises & rising home costs means a nanny is a step too far unless it is similar in price to nursery. Nanny wages are ludicrously high. £45k+ a year?!! However I know the reason why & wish we earnt more so we could pay more to get one of the better nannies who can probably name their price.... The majority of so called nannies round here have very little training nor a real love of the job. It is very sad. Loads of barely qualified disinterested people jumping on the baby boom train hoping to make money & fooling parents into thinking they love kids.