| A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1 | Nanny Cost Calculation - 5 Days Per Week, 10 Hours Per Day | |||||||||||||||||||
2 | If nanny is paid at National Minimum Wage (currently £6.08) | If nanny is paid at £10 gross per hour | If nanny is paid at £7.50 gross per hour | |||||||||||||||||
3 | ||||||||||||||||||||
4 | Hourly Rate | £ 6.08 | Gross | Hourly Rate | £ 10.00 | Gross | Hourly Rate | £ 7.50 | Gross | |||||||||||
5 | ||||||||||||||||||||
6 | Start Time | 8:00:00 | Start Time | 8:00:00 | Start Time | 8:00:00 | ||||||||||||||
7 | End Time | 18:00:00 | End Time | 18:00:00 | End Time | 18:00:00 | ||||||||||||||
8 | Hours Per Day | 10:00:00 | 10 | Hours Per Day | 10:00:00 | 10 | Hours Per Day | 10:00:00 | 10 | |||||||||||
9 | ||||||||||||||||||||
10 | Days Per Week | 5 | Days Per Week | 5 | Days Per Week | 5 | ||||||||||||||
11 | ||||||||||||||||||||
12 | Hours Per Week | 50 | Hours Per Week | 50 | Hours Per Week | 50 | ||||||||||||||
13 | ||||||||||||||||||||
14 | Calculations by http://www.mranchovy.com/calc/paye201213 | |||||||||||||||||||
15 | Gross Pay | 15851 | Gross Pay | 26071 | Gross Pay | 19554 | ||||||||||||||
16 | Employers NI | 1156 | Employers NI | 2566 | Employers NI | 1667 | ||||||||||||||
17 | Note: Employers NI changes at each Budget. Figure is for 2012/13 tax year | |||||||||||||||||||
18 | ||||||||||||||||||||
19 | Payroll Admin | 135 | Payroll Admin | 135 | Payroll Admin | 135 | ||||||||||||||
20 | Note: This assumes you will be using a nanny payroll company. Their prices vary, though are typically around £135 | |||||||||||||||||||
21 | Currently I suggest using http://www.payefornannies.co.uk who my employer has been using for the past 3 years. | |||||||||||||||||||
22 | ||||||||||||||||||||
23 | Other costs of having a nanny. | |||||||||||||||||||
24 | ||||||||||||||||||||
25 | If a nanny uses their own car for work, they are paid mileage. Currently the approved rate is £0.45 per mile. | |||||||||||||||||||
26 | A nanny may have a kity which they use for paying for miscellaneous expenses, such as toddler groups | |||||||||||||||||||
27 | Kity: | £5 | per day | Kity: | £5 | per day | Kity: | £5 | per day | |||||||||||
28 | 52 Week (-5.6 weeks holiday): | £1,160 | 52 Week (-5.6 weeks holiday): | £1,160 | 52 Week (-5.6 weeks holiday): | £1,160 | ||||||||||||||
29 | ||||||||||||||||||||
30 | Holiday Entitlement | |||||||||||||||||||
31 | For a nanny working all year round, they get 5.6 weeks holiday as a minimum. No kitty during the 5.6 weeks. | |||||||||||||||||||
32 | ||||||||||||||||||||
33 | Total Cost (Gross Salary + Employers NI + Payroll Admin + Kity) | |||||||||||||||||||
34 | All Year: | £18,302 | All Year: | £29,932 | All Year: | £22,516 | ||||||||||||||
35 | Monthly Equiv: | £ 1,525.17 | Monthly Equiv: | £ 2,494.33 | Monthly Equiv: | £ 1,876.33 | ||||||||||||||
36 | Note: These are only estimated figures to give a guide as to likely cost of employing a nanny. Actual figures will vary | |||||||||||||||||||
37 | given your specific requirements, salary figure agreed with the nanny, your expected activities costs, plus you may | |||||||||||||||||||
38 | have the addition of adding on nannies mileage whilst on duty or use of public transport. Plus taxation changes from | |||||||||||||||||||
39 | time to time, especially around April and which will affect the Employers NI figure. | |||||||||||||||||||
40 | ||||||||||||||||||||