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How much will £10.00 an hour Net really cost me?

(7 Posts)
Wills Tue 11-Feb-14 15:06:28

I'm just starting to look for a Nanny and am being told that the rate will vary from 7.50 to 10.00 net - but will that mean to me?

Thanks

Artandco Tue 11-Feb-14 15:11:46

£10 net is around £13-14 as you will pay tax and ni. £500 net a week is around £620-40 a week depending on tax code

Wills Tue 11-Feb-14 15:20:10

Brilliant - thank you

NomDeClavier Tue 11-Feb-14 15:22:55

Remember that if they have anything other than standard tax code it will be a lot higher - second job, previous undpayment of tax/NI etc. You may also need to factor in student loan repayments. Although you can get a rough estimate you never know what the true situation is until you have their P45 so where possible talk in gross terms and definitely agree a gross salary in the contract.

oscarwilde Tue 11-Feb-14 15:33:42

www.mranchovy.com/calc/paye201314

I've been using this calculator which works it out as circa �726 a week to offer �10net per hour (for an 8-6 day). I think Arts numbers reflect the gross salary for the employee rather than the rather horrid gross for the employer when NI is included buries head in sand thinking about future pension costs

Blondeshavemorefun Tue 11-Feb-14 15:45:32

£10net varies with hours hence why should always discuss gross so employers don't get caught out

Ie at £10nett a 11hr 2 day job would be £11.06gross but for a 11hr 5 day job the gross is £13.26 so £2ph more

Always check using mr a fab chart smile

tellmeonasunday Tue 11-Feb-14 20:36:31

I pay £10 per hour net, though contract says gross. Two day a week nanny and I split her tax free allowance with other employer. With tax, NI and mileage it costs me around £1300 per month for 22 hours/week.

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