Nanny shares triple in just 6 months

The number of nanny shares in the UK has increased 3-fold over the last six months due to the economic down turn.

The figures, release by Tinies, the UK's largest network of nanny and nursery staff agencies discovered that one in four nannies on Tinies books now works for more than one family.

Registrations on nannyshare.co.uk have risen from 100 families a month in June this year to close to three hundred at the end of the year.

The increase has been greatest in London and the Midlands.  Nannytax has also seen a steady increase in the number of parents participating in nanny shares reporting that in November the number of its subscribers sharing a nanny reached 20% for the first time.

Oliver Black, director of Tinies said: "In the current economic climate families are reviewing their childcare arrangements and looking at how they can reduce costs."

He added: "Nanny shares are increasingly one of the most affordable childcare options for families, particularly where there is more than one child to look after."

Traditionally London and the South East has been the biggest employer of nannies and nanny shares with more than 50% of all nannies working for families in this area. 

However, interest in nanny shares is growing in other cities around the UK such as Birmingham, Northampton and Essex where registrations have tripled.

"Essex is a prime location for many city workers, the growth in interest in nanny shares in this area could well be another indicator of families looking to save money," added Black.

The average cost of employing a nanny as part of a nanny share including tax and national insurance contributions is around £350-£420 a week which is then split between two families.

Working tax credits and childcare vouchers can both be used to pay for the cost of hiring an Ofsted registered nanny, even a shared nanny.

Any nanny can register with Ofsted and Tinies can help with this process.  Families with a joint income of less than £66,000 per year can receive up to 90% towards the cost of hiring an Ofsted registered nanny via tax credits.

Parents considering a nanny share should also consider whose home the children should be based in for the share, how the cost of the nanny should be divided (based on number of children cared for in each family) and when the nanny will take holiday. 

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