Nannysharing - an effective childcare solution
The advantages of having a nanny are numerous, but it can be expensive. Why don't more families consider the option of sharing a nanny with another family, wonders Theresa Byrne.
These days we have all heard about the escalating and often prohibitive cost of childcare. Surprisingly perhaps, what is less well known is the phenomenal and correlated rise in nanny sharing. This can provide a very cost-effective solution, yet many parents bypass this option altogether.
In the UK today, more mothers then ever are returning to work. The nation's appetite for more flexible and part-time work continues to grow as the cost of childcare mounts apace.
A full-time nanny can cost up to £500 per week, but if you enter a nannyshare you get the flexibility without the cost.The advantages of having a nanny are several-fold; having a qualified and/or experienced carer whose sole purpose is to look after your children on your terms and in your own home is very appealing. The parents, even though out at work, still get to set all the parameters of their child's day; everything from what their children may eat, activities they partake in, to what clothes they wear, should they so wish.
Yet when a full time, live out nanny can cost up to £500 a week before tax and National Insurance contributions, this form of childcare is of course way beyond the means of most and besides, not everyone needs a nanny full time.
One way round the cost is to go for a nanny share. One nanny looks after the children of more than one family, either at the same time or on different days, so it can work exceptionally well for people who work part time. In either share arrangement, the costs are halved.
Nannysharing is a solution that is already working for many families across the country and the demand is growing rapidly. Historically though, it has been quite difficult to set up a share. Where do you start? How do you find a good nanny? How do you find a family to share with? How exactly should you split the costs? What about holidays, contracts, toys, food?
A good nanny is not easy to find. In order to cut costs a surprising number of parents choose to bypass using a nanny agency altogether, yet it could be argued that it's more important than ever that you use the services of a reputable agency when sharing a nanny with another family. A good agency will carefully vet all candidates, ensure that they have a CRB check and perform thorough reference checking. As nannysharing continues to grow most families are very familiar with the concept of nannies working for more than one family. To find an agency in your area, why not use the Nannytax Online Agency Directory.
In some other instances you may have already found your ideal nanny, perhaps she has been working for you for some time, but your circumstances have changed and you no longer require her full-time, so what you need is to find a family to share her with.
Nannytax has a dedicated nannyshare team who can help you navigate the complexities of splitting costs and making sure you pay the correct tax and NI contributions, and our legal team can help you with the more complex legal issues of your share.