If you employ a nanny and pay the minimum wage or above you are required by law to organise the nanny’s income tax and National Insurance.
As an employer of a nanny you must pay their National Insurance Contributions (NIC’s) as like any other employee a Nanny should be entitled to maternity pay and unemployment pay, and will only be able to apply for these if they have been making National Insurance contributions. As the employer of a Nanny you must deduct NIC’s from their pay each week.
You will also have to make your own contributions to National Insurance through Employers NIC and these are generally slightly less than the National Insurance Contribution that your nanny will have to pay. To make these contributions you will need to know the difference between gross and net pay. Gross pay is the amount before any taxes or NIC have been deducted and net pay is the amount after all taxes and NIC have been deducted. You need to make sure you know exactly what the take home pay is and also be aware of everything that needs to be deducted and why.
For many of us that lead busy lives having a nanny can be a real life saver and can provide you with more free time in what could otherwise be a hectic schedule. Unfortunately this benefit can be overshadowed by the fact you could end up spending your free time sorting out the nanny’s payroll. The world of salaries, tax, sick pay and overtime can be stressful and take up a lot of the time you would rather be spending with your family. Instead of spending your precious time learning how to do payroll there are now firms out there that provide you with a full nanny tax service.
A nanny tax service will save you from the stresses and hassles of running your nanny’s payroll and also dealing with the Inland Revenue. A company providing a nanny tax service will take care of all the complex legislation and will also ensure that you are fully compliant. A nanny tax service company should register you with HMRC and open your PAYE scheme on your behalf. They will act as your agent to ensure that all your obligations as an employer are met. They will also provide your nanny with a payslip on the correct date, showing their gross wage, tax, NI deductions and the net wage. A good company will also provide you with a P45 if and when your nanny leaves.
All you should need to do is provide the nanny tax service company with the hours your nanny works each week, inform the company if the nanny is off sick or falls pregnant and finally make sure you pay your nanny and the HMRC on the dates they money is due.
/* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;}
Navigating British Airport Transfers: Ensuring a Smooth Start to Your UK Visit
Arriving in a new country can be daunting, but the journey from the airport to your final destination doesn't have to be. In the UK, a variety of airport transfer options are available to ensure a seamless and stress-free start to your visit. From luxury limousines to cost-effective shuttles, British airport transfer services cater to all needs, providing reliability, comfort, and peace of mind.
Cartier Watches: A Legacy of Luxury and Precision
Cartier, a name synonymous with luxury and precision, has been crafting exquisite watches since 1847. Known for their unmatched quality, these timepieces are not just tools for timekeeping but are considered symbols of status and elegance. Cartier's dedication to craftsmanship and innovation has made it a favorite among watch connoisseurs worldwide, who often regard these watches as priceless treasures.
Navigating Gatwick Airport Transfers: A Seamless Travel Experience
Arriving at Gatwick Airport, the gateway to the south of Central London, means stepping into one of Europe's busiest air hubs. With a staggering daily movement of passengers and aircraft, planning your onward journey is essential to avoid the hassle and start your visit smoothly. Gatwick Airport offers a variety of transfer options tailored to every need and preference, ensuring a stress-free continuation of your journey, whether you're heading to a plush hotel or a quaint London residence.
