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Part-time working - can anyone help me calculate pay?

(11 Posts)
MistressIggi Thu 18-Oct-12 22:30:37

Making plans for working part-time (under flexible working) when I return to work after this ML. Trying to decide if I can afford 2 days only, or 2.5 or 3 etc - obviously I know how to divide my salary by hours worked, but I don't have a clue how to tell how much I'd actually get into my bank each month, minus tax and NI. Would I pay a lower rate of tax for example I wonder, which would mean I'd receive more net pay for each day.
If anyone knows how to calculate tax/ni, or a link to some info about it, I would be very happy!

mirry2 Thu 18-Oct-12 22:32:43

As a rough guide, net pay is 70% of gross pay

Finbar Thu 18-Oct-12 22:34:27

The best place for the info you want is either the Direct Gov website which is usually brill. Or teh HMRC website, which can be a little more complex initially, but has lots of great on-line calculator type tools.
Best of luck!

MistressIggi Thu 18-Oct-12 22:36:27

Thanks Mirry. Am thinking too I need to check I'm working 16 hours as could then claim WTC - though I'd need to check the eligibility for that.
I have a figure in my head that I need to earn for us to get by on, and just need to work out the minimum hours I can do to achieve that!

MistressIggi Thu 18-Oct-12 22:38:06

Thanks Finbar. I can see a long calculator/computer session coming on!
Dh is hoping to work part-time too but I don't want to let him

Heavensmells Thu 18-Oct-12 22:41:23

If you try the entitled to website it usually asks for your expected salary then tells you how much tax & NI you will pay.

ceeveebee Thu 18-Oct-12 22:44:27

Mr Anchovy is a mumsnetter accountant with a website which does exactly this for you, here:

www.mranchovy.com/calc/

Ambi Thu 18-Oct-12 22:45:20

Divide FT salary by 5 days and multiply by the days you want: 2 or 3 to get your PT salary. Go onto thesalarycalculator.co.uk to give you the net figure.

Pourquoimoi Thu 18-Oct-12 22:46:05

Depends if you'd change tax bracket, I.e go from 40% tax to 20%.

If you were paying 20% and still are (with earnings between £8k and £43k) then you'd lose 68% (I.e. 100%-32%) of the salary you'd lost. So if you did earn 20k and went down to 10k then you'd take home £6,800 less than you used to.
Hope that makes some sense?

MistressIggi Thu 18-Oct-12 23:12:22

Am overwhelmed with all the useful advice and links thanks
Have a night of feeding ahead of me so will stop playing with calculator and get some sleep!
Thought I had sussed it out and then realised I haven't worked out the cost of the bloody childcare blush

Athendof Thu 18-Oct-12 23:13:39

http://www.thesalarycalculator.co.uk/salary.php

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