Monthly vs 4 weekly

JS477

I'm trying to work out my (gross) annual income but am confused as to how to work it out.

When I multiply my fortnightly benefit by 2 to get the total monthly then by 12 to get the annual amount this is different from multiplying the equivalent weekly amount by 52.

Example: £200 a fortnight x 2 = £400 month x 12 = £4800 year.

However £200 a fortnight /2 = £100 per week x 52 = £5200 per year.

Why is there a difference and which is the official way to do it for tax purposes?

Ta

hayley11

The first way is incorrect because there isn't four weeks exactly in a month. The second way is correct, or you could just times it by 26.

I get paid some benefits every 4 weeks so I times them by 13 to get the yearly amount.

Fortnightly benefits, I times by 26 (of your way of dividing by 2 and then times by 52 works just as well)

Caroline73_2

a month isn't four weeks hence the diffence when you multiply four weeks by twelve.

JS477

Thanks. So if you had an annual amount you just divide by 52 to get the weekly but what do you do to get the monthly?

Sorry to appear thick here

OrkneyStar

JS477 wrote: »

Thanks. So if you had an annual amount you just divide by 52 to get the weekly but what do you do to get the monthly?

Sorry to appear thick here

Divide yearly by 12 to get monthly.
Divide yearly by 13 to get 4 weekly.
Divide yearly by 52 to get weekly.
Weekly x 52/12 will give weekly to monthly.
Monthly x 12/52 will give monthly to weekly.
4 weekly x 13/12 will give 4 weekly to monthly.
Monthly x 12/13 will give monthly to 4 weekly.
hth

hayley11

JS477 wrote: »

Thanks. So if you had an annual amount you just divide by 52 to get the weekly but what do you do to get the monthly?

Sorry to appear thick here

Don't apologise You just divide the yearly amount by 12 to get monthly or by 13 to get 4-weekly.