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wages

(10 Posts)
SimpleAsABC Fri 18-Jul-08 15:20:02

what is the difference between 7.50 net and 10.00 gross? ie how much of the 10 is actually left after tax and ni?

thanks!

FabioUnblogged Fri 18-Jul-08 15:21:54

Depends on your tax code.

SimpleAsABC Fri 18-Jul-08 15:33:29

ummmm just a standard one then? I'm sure im just on basic tax. can't remember the code @ mo?

FabioUnblogged Fri 18-Jul-08 15:35:17

try here

nannynick Fri 18-Jul-08 16:10:02

How many hours per week?
How many weeks per year, if not all.
Are you single or married?
It isn't as simple as a diff per hour. Better to calculate annual salary, then compare.

Employers should agree a gross wage.

JenniPenni Fri 18-Jul-08 16:25:13

Always go the gross route

Nick, just read your info... love the bit about the kids loving a 3 mile walk hehe. I must say, I live next to a humungous common and we walk for ages too, with little stops now and again.. it is amazing how far those little legs can go!

SimpleAsABC Fri 18-Jul-08 17:42:12

Have just tried there but it wants me to put it in as gross which I don't know for the 7.50 bit?

nannynick Fri 18-Jul-08 18:18:12

You have to play with the figures, thus it isn't simple to do a Net to Gross calculation.

As I said earlier, really need to know the hours involved, as it is better to calculate on an annual pay basis.

Lets say you work 10 hours per day, 5 days per week, all year.

£7.50 net per hour = £19,500 net per year
£10 gross per hour = £26,000 gross per year

Using ListenToTaxman (based on typical single person's tax code)
£25,815.07 gross is £19,500 net
£26,000 gross is £19,627.60 net

Therefore, given those hours/days, £10 gross per hour gives you more take home pay, than £7.50 net per hour. Difference of £127.60

Why are you asking the question, and from who's perspective?

SimpleAsABC Fri 18-Jul-08 20:28:26

From nannies perspective, 16 - 20 hours per week @ 7.50.

At mo my gross wage is 9,000 ish. Def no more. Doing a mixture of full and pt at mo too?

nannynick Sat 19-Jul-08 00:15:44

If £7.50 per hour net, 20 hours per week
Roughly gross is £8859 (single person, 2008 tax year, no other income).
So it is less than £9,000 gross you get now.

Note: If this is not your only job, then the figure above will be very wrong, as it is assuming that your tax allowance is used for this job.

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