This is more a theoretical question as I am about to quit work to have baby two but I have recently discovered that it is possible to set up a company to employ your nanny. This saves on income tax and national insurance - although you do have to pay corporation tax. The info I saw suggested that on a £350PW net salary you would save just over £7000 per year - less the accountants costs of just under £1000. That would have saved us a stonking £500 per month which would have made a huge difference.
Does anyone do this ? Does it work ? Are there any problems ? Why do more people not do this ?
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Save on your nannys tax ???
7 replies
kaz33 · 20/03/2003 14:44
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