Reducing number of days working

[Bezm]

I'm planning to drop one day from 5 to 4 days in January 2019. Does anyone know how I calculate my approximate new take home pay?

It would depend on your exact contract, but presuming you're 0.8 you'd get 80% of your current pay.

Your take home pay now, divide it by 5 and then times that by 4.

You'd end up with a bit more after deductions than 80% as the 20% you're losing is fully taxed and NI'd.

There are take home calculators on line though.

No you won't I shouldn't, because you haven't calculated the personal allowance.

You don't pay tax on the first £11K (ish) so you take home a bit more than 80% of your take home when you are FT.
Your student loan and your pension contributions would be lower too. Not so sure how NI works.

Take your current gross pay and work out 80% of it (by dividing by 5 and multiplying by four). Then go to the SalaryCalculator and put in your new gross pay and it will tell you what your new take home pay will be.

Thanks everyone. I got the actual figure from my pay office eventually. It actually works out that to drop 20% of my hours I only lose 16% of my pay. 😁

That’s brilliant, which day are you dropping? I’d recommend Friday as most things in schools seem to be a Friday

I'm actually going for Mondays. Starting January 2019. Then in January 2020, just after I turn 60, I'll 'retire' in order to collect my pension, and drop another day to 3 days. School have already agreed to this!
Amazingly, once I do that I will be better off than I am now working full time as I will have no pension contributions to pay, no NI to pay on my pension and lower tax contributions. I'll also have paid off my mortgage.
I'll be working tues, wed, thurs, and have lovely long weekends.

Noooo!
You'll miss all the INSET days and weeks at the start or end of year where you have 3 or 4 day weeks.
Then in May you'll miss the 2 Bank Holiday days off.
Plus all the 'nice' things that happen on Fridays.

In 'normal' contracts Tues, Wed Thurs makes sense, but it is the worst pattern for a Teachers contract.

Be careful if you have extra pay for an area of responsibility, you may still be completing all the duties expected in your four days but they will still slice some of it off!