Can anyone help with a money question please?
I’m a lecturer in HE in Scotland. We have recently had resolution to a salary dispute ongoing since 2021, and have been awarded consolidated back pay of £5,000, plus a percentage increase for next academic year. The back pay will come at the end of next week.
I work an 80% contract, so that would I think be £4000 of back pay. My salary is roughly £32,000 (take home pay apx £2,200 after deductions and pension).
Maths is really not my strong suit. Can anyone help with what sort of extra pay I am likely to get this month with the back pay? Is it 1/4 off for tax/NI? so I would get about £3,000? I don’t know if it is taxed as a bonus or how it works? Sorry for being so stupid, I teach a creative subject 😬. We only get a payslip the day before but I would like to get an idea sooner if possible.
Thanks for reading and for any help 😊