Statement of Affairs confusion

SimonF_2

Hi all,
Firstly I am not sure this is in exactly the right place, obviously feel free to move as required!
Right, I am trying to complete the Statement of Affairs calculator, as suggested on this site, but am having difficultly working out exactly what figures to enter. Both my partner and I are on 'variable' incomes, she is a part time nursery nurse through an agency (think supply teacher for nurseries) so her work is not guaranteed and obviously she only gets paid for the hours she works, whereas my monthly salary varies with bonuses and expenses, I actually have no idea what my basic, sans extras, after tax take home pay would be!
Finally, to further add to the confusion because my job is a healthy split of office-based and homeworking (not to mention often visiting customer sites) my monthly travelling expenses can sometimes vary by as much as £200 - £300!

Ta in advance!
Simon

bargainbetty

Hi Simon.

Two options.... you could go for a worst case scenario (minimum of income, max outgoings) or you could look at the last three months payslips and bills, and give yourself an average. That might give you a decent idea of figures, as your income fluctuates.

Good luck x

pania

hi simon. use ONLY guaranteed income iw basic salaries that way you will see the absolute worst case sceanrio figure.

Then after that take an average of your last 3 months income and try the figures again with that BUT the basic salary will give you the best insight. I am very heavily commission based and my SOA based on basic figures is scarey but i need to know the true picture.

Hope that helps. xx

ann_marie77

Hi Simon,

Here's a very useful calculator I found on the internet for working out your basic wage after tax and insurance. It will even work out your pension contribution if you make one directly from your wage (you need to input the percentage as 0.0X for it to work).

http://listentotaxman.com/

Hope it helps. xxx

SimonF_2

OK, now I'm even more confused!!

Tried that link Ann Marie, seemed useful, but wanted to work out how to include any extras/deductions (I have Student Loan, Bonus and also Childcare Vouchers which are all pre-tax)
I've bashed in all the figures in from a couple of previous payslips, but the amounts come out different ... not a huge amount, but it seems to think my take-home should be about £70 a month less than it actually was. If ignore all these bits, it gives a figure 'approximately' what I was guesstimating.

So I've used the figures from that to work out the Statement of Affairs, taking a worst case scenario, it says I'm actually losing £262 a month.