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Working out costs of a nanny

(7 Posts)
stillwantrachelshair Mon 02-Jan-17 20:27:29

Could someone give me some advice on this? We have looked at it before but that was a couple of years ago & I'm aware pensions have come in/are coming in since then.
I have thought of:
- salary (having the usual gross/net issue. Is there a way of working one out from the other? Does MrAnchovy still have his brilliant calculator?)
- food
- electricity etc
- mileage
- activities
- pension

Anything else?

Also, it will be a term time only role being paid in arrears for the hours worked that month. Do I just tell the nanny payroll company the hours worked & they go from there? Any recommendations for which nanny payroll co to use?

Thanks

Cindy34 Tue 03-Jan-17 19:56:35

Not sure when NannyNick last posted a cost calculation example, that seems to cover a lot of the costs involved.

MyAnchovy website I don't think has been updated for several years. The nanny payroll companies provide calculators on their websites for doing a basic calculation for Net to Total Employer Cost (so including the Employers NI). The nannypaye calculator will email you the result. You can then get a more detailed cost calculation if you decide to use their service.
There is also an excellent iPhone App for doing Net to Gross and Gross to Net. Will try to find a link to it.

Cindy34 Tue 03-Jan-17 20:00:58

Term time only - when would your nanny take their paid holiday? That can be during term time or you can specify that it is only during school holidays. Depending on which you do it will affect your cost, as a nanny who takes holiday during the school holidays is working more weeks of the year than one who can take holiday during term time.

If the hours will vary then you can tell the payroll company the hours each month but you would need to estimate it a bit as they will need to know before the end of the month. Any adjustment could always be done the following month.

Some nannies may want salary split over 12 months, that can be useful I had it that way in a job a few years ago.

Cindy34 Tue 03-Jan-17 20:04:06

iPhone (also works on iPad) app
https://itunes.apple.com/gb/app/uk-salary-calculator-income/id945807341?mt=8

stillwantrachelshair Tue 03-Jan-17 22:29:03

Many thanks, Cindy. The nannypaye website has been really helpful.
We need a nanny term time only but don't want her to take any annual leave during that period so will pay her annual leave on top of that. We also suggested an annualised salary as otherwise there will be some massive peaks & troughs in her income which anyone would struggle to manage.

lunchboxtroubles Wed 04-Jan-17 06:07:40

We need a nanny term time only but don't want her to take any annual leave during that period

So you want someone who can afford to be paid for only just over two thirds of the year and also doesn't mind only having holiday when flights etc are at their most expensive? you might find your pool of applicants is restricted unless you're paying a great salary.

nannynick Wed 04-Jan-17 14:42:32

It can restrict applicant numbers but it does suit some people, so advertise and see what you get.

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