Calculating SMP after deductions

[Cat1424]

Hello,

I am going to be going on mat leave in August and we’re currently trying to work out the minimum amount we need to save. We’ve made a good start but I can’t help but worry that we’re not going to have enough to cover bills (OH is crap with money!!).

When I go on mat leave, I’ll only receive SMP and I know the going rate for that post April, but I’m struggling to work out exactly how much I’ll come out with each month once tax etc has been deducted.

Without this, we can’t accurately work out what we need to save (I can’t hammer it home to the OH) and work are also asking me how long I am expecting to have off, but I can’t tell them until I know how long we can survive for 😂

I’ve tried a whole host of online calculators, I’ve tried calculating gross pay for the financial year and estimated income tax on that but I’m not convinced I’m working it out right.

Can anyone shed any light?

I think you'll struggle to get a generic answer as it really depends on what you'll be earning between March and August, but if you give some figures/show what workings you've done someone might be able to help.

I would suggest working out your annual income by the relevant tax year(s) and putting it through a calculator (as you have done). But if you give some figures I can maybe check them