Working out how much I'll get paid if I go part time

daisiegg

Hi all - my first time on this board, hope it's the right place to ask this question!

I'm a teacher and I'm considering going part time in September. I've been trying to work out how much I would actually take home each month if I did.

I think I contribute 6.4% of my salary into my pension, and am paying back my student loan. Currently my tax code is 747L and NI Code is D.

So my question is, if I drop down to working 0.6 of a full week (so, 60%), would I just take home exactly 60% of what I would take home if I worked full time? Or will it work out to be different because tax, pension, NI, etc may be different?

I can't seem to find anywhere online to work this out. I have some vague feeling that perhaps it might be more complicated than just taking home 60% of what I take home now because of tax and stuff...but not sure!

If anyone can help me or knows how I could work this out, that would be great. If anyone could work it out I'd be happy to PM numbers to you but I probably shouldn't post all my intricate salary details on a public forum!

Thanks

LittleVoice

Go to http://www.listentotaxman.com/
and enter your details, starting by working out 60% of your basic pay.

You would take home more than 60% of your current take-home pay mainly because your tax-free allowance would still be the full amount.

daisiegg

LittleVoice wrote: »

Go to http://www.listentotaxman.com/
and enter your details, starting by working out 60% of your basic pay.

You would take home more than 60% of your current take-home pay mainly because your tax-free allowance would still be the full amount.

Thanks...I'd already worked out what 60% is...but just wondered if there was a way to work out how much more than 60% I'd be taking home due to the tax stuff.

LittleVoice

daisiegg wrote: »

Thanks...I'd already worked out what 60% is...but just wondered if there was a way to work out how much more than 60% I'd be taking home due to the tax stuff.

I said to start with working out the 60% because that's what the listentotaxman site doesn't work out for you.

You'll have to use the site (or something similar) or tell us all your details because how much of a difference it makes depends on your starting point.

What does listentotaxman come up with as the answer?

agrinnall

Well, if listentotaxman doesn't do what you want (I've not used it so I can't comment) then try http://www.thesalarycalculator.co.uk/salary.php, if you enter your full time salary and your part time salary you'll be able to see what the two take home figures are.

I assume (hope!) you're not a maths or economics teacher.

daisiegg

agrinnall wrote: »

Well, if listentotaxman doesn't do what you want (I've not used it so I can't comment) then try http://www.thesalarycalculator.co.uk/salary.php, if you enter your full time salary and your part time salary you'll be able to see what the two take home figures are.

I assume (hope!) you're not a maths or economics teacher.

Noooo! English

I'm not sure how it all works because my part time and full time salary would be 'the same' - i.e. on my pay slip it says the salary at the bottom and then underneath it says "part time percentage" and says whether you are 1.0, 0.6, 0.5 or whatever. The number for 'salary' is the same no matter what the percentage number underneath it says.

I think I'm just being a big idiot. So if I work out 60% of my salary and put that number into one of those calculators - say for argument's sake my salary is 20,000 and I put in 12,000 - would the number that comes out of those calculators be what I'll take home?

daisiegg

I think I've been really stupid. It's just because that number next to 'Salary' on the payslip says the salary for your position on the pay scale if you were full time, no matter what percentage you actually work, that I got confused. If my overall salary is just going to be 60% of the full-time salary, then of course I can put it into one of those calculators and work it out.

gibson123

daisiegg wrote: »

Noooo! English

I'm not sure how it all works because my part time and full time salary would be 'the same' - i.e. on my pay slip it says the salary at the bottom and then underneath it says "part time percentage" and says whether you are 1.0, 0.6, 0.5 or whatever. The number for 'salary' is the same no matter what the percentage number underneath it says.

I think I'm just being a big idiot. So if I work out 60% of my salary and put that number into one of those calculators - say for argument's sake my salary is 20,000 and I put in 12,000 - would the number that comes out of those calculators be what I'll take home?

Yes, so glad your NOT teaching maths PMSL

ohreally

Are there pension implications to consider?

daisiegg

Pension is 6.5% or something.

daisiegg

gibson123 wrote: »

Yes, so glad your NOT teaching maths PMSL

But I AM teaching English so it should be 'you're', not your

Thanks for the help