I currently work 5 days a week term time only. I would like to drop a day so that I can take my DD to school and pick her up one day a week and to catch up on housework etc.
So am I right in thinking that if I went from doing 5 days a week to 4 my take home pay would be 80% of what I currently get? So if I currently take home £20k a year I would drop to £16k.
DH reckons I would take home a bit more than 80% because tax, NI etc would go down but neither of us really knows.
Is there a way to find out exactly what my take home pay would be if I reduced my hours?
Sorry if this is a stupid question. Maths really isn't my strong point.