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“I would like to take the opportunity to compliment your and your staff on the excellent service you have provided for me for the last 3 years”
CM, Oxford
       

Newsletter Archive

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ACCOUNTING SERVICES AND TAX RETURN SERVICE12 April, 2007
Please note that Sara Graff is a qualified Chartered Accountant and Chartered Tax Advisor and provides accounting and tax services in addition to the general Taxing Nannies service. She would be happy to assist you in preparing your 2007 tax return or assist you with other accounting services and if you wish to avail yourselves or this service or would like some general advice please free to ring Sara on +44 (0)208 882 6847.
 
       
CHILDCARE VOUCHERS11 April, 2007
If your employer gives you childcare vouchers, the first £55 per week per employee is exempt from tax and national insurance (and employer's national insurance) provided approved childcare is used. If both parents receive childcare vouchers they are each entitled to receive £55 per week free of tax and national insurance. For a basic rate tax payer the tax and national insurance savings on £55 per week amount to £18.15 per week and for a higher rate tax payer the relief amounts to £22.55 per week. Up until now the Childcare Approval Scheme has been the voluntary scheme for approving childcare providers and enabling parents and employers to check if a carer is approved. However this approval scheme is being phased out and from 1st October 2007 applications and renewals by nannies will be dealt with by Ofsted by voluntarily registering to the Ofsted Childcare Register (OCR). Between April and September 2007 nannies can be approved by either body. For more information on approved childcare please contact Taxing Nannies or visit www.childcareapprovalscheme.co.uk/carer/qualifications.asp or https://online.ofsted.gov.uk/OnlineOfsted/default.aspx
 
       
EU WORKERS11 April, 2007
Workers from most EU countries can work without any need for a work permit. If the EU is from one of the Eastern European countries then if they have worked in the UK for less than a year they will be required to register with the Home Office within 30 days of starting each employment. However, it is important to note that Romanian and Hungarian Nationals cannot be employed until a work permit is obtained by the employer and the foreign national has received an Accession Worker Card.
 
       
HOLIDAY ENTITLEMENT11 April, 2007
The Government have issued proposals to increase minimum statutory holiday entitlement to 24 days (including bank holidays) from October 2007 increasing to 28 days in October 2008. We will advise you further once the proposals have been confirmed.
 
       
INLAND REVENUE INCENTIVE PAYMENTS11 April, 2007
We have filed all our clients' 2006/07 End of Year Returns online and therefore all our clients are eligible for the £150 incentive payment from the Inland Revenue. Where a tax liability in excess of £150 exists at 5th July 2007, we will offset the incentive payment against that liability resulting in a lower tax liability for that quarter. However, where our clients have ceased to employ a nanny or only have small tax liabilities we are in the process of obtaining refunds in the form of cheques from the Inland Revenue. The incentive payments for employers filing End of Year Returns online for 2007/08 is reduced to £100 and £75 for 2008/09.
 
       
STATUTORY MATERNITY PAY11 April, 2007
For babies due after 1st April 2007, SMP has increased from 26 weeks to 39 weeks. The rate will continue to be 90% of average salary for the first 6 weeks and will be at the rate of £112.75 per week for the remaining 33 weeks. Please also note that employees on maternity leave accrue holiday pay and therefore if an employee resigns at the end of her maternity pay period she will be entitled to holiday pay based on 9 months service.
 
       
NATIONAL MINIMUM WAGE10 April, 2007
NATIONAL MINIMUM WAGE
Please note that the current national minimum wage is £5.35 gross per hour for anyone aged 22 and over and £4.45 gross per hour for those aged 18 to 21. The minimum rate for 16-17 year olds is £3.30 per hour. These figures will increase on 1st October 2007 to £5.52, £4.40 and £3.40 per hour respectively. The minimum wage does not apply to a live-in nanny who lives with the family. However where the employee has separate accommodation then the national minimum wage will apply subject to an offset of £4.15 per day for each day that accommodation is provided.

Please contact Taxing Nannies if you require further information.