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Hiring nanny
broisatse
Posts: 13 Forumite
in Cutting tax
I am about to hire a nanny and I wonder if there are any tax-saving tricks I could use.
I am already registered as an employer (with pension scheme in place) as we already had a nanny before. I am aware of tax-free childcare, however I wonder if there is a better, more tax-efficient way, like hiring her through a limited company or something?
I am already registered as an employer (with pension scheme in place) as we already had a nanny before. I am aware of tax-free childcare, however I wonder if there is a better, more tax-efficient way, like hiring her through a limited company or something?
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Comments
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What trade would the company undertake?0
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I assume it would be childcare provider (like one-person nanny agency). I'd bill myself and pay nanny salary. I'd think there would be quite a few things I could put into expenses and get a bit of tax refund, not sure if that would justify all the trouble though (I am not sure if I could use tax-free childcare in this scenario which basically kills the purpose).
Any tax-saving ideas when hiring a nanny are welcome.0 -
I assume it would be childcare provider (like one-person nanny agency). I'd bill myself and pay nanny salary. I'd think there would be quite a few things I could put into expenses and get a bit of tax refund, not sure if that would justify all the trouble though (I am not sure if I could use tax-free childcare in this scenario which basically kills the purpose).
Any tax-saving ideas when hiring a nanny are welcome.
you employ a nanny, you will be taxed as an employer. End of.0
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