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calculating take home pay
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Hazy
Posts: 18 Forumite
in Cutting tax
I am currently on maternity leave and am considering going back part time. I'm trying to work out how much money I'll have.
My salary will be £31,000 and my pension contributions are 6.4%, I'm also considering child care vouchers under salary sacrifice scheme.
In order to calculate take home pay I take it I deduct the vouchers of £55 per week, then deduct pension contributions and use that figure to put in a salary calculator?
My husband can also do child care vouchers, how do we decide who takes them? Do you have to do the whole £55 a week?
Any advice gratefully recieved.
My salary will be £31,000 and my pension contributions are 6.4%, I'm also considering child care vouchers under salary sacrifice scheme.
In order to calculate take home pay I take it I deduct the vouchers of £55 per week, then deduct pension contributions and use that figure to put in a salary calculator?
My husband can also do child care vouchers, how do we decide who takes them? Do you have to do the whole £55 a week?
Any advice gratefully recieved.
0
Comments
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I believe that you can split the vouchers and no you dont have to take the full £55.
You correct in thinking that you deduct the non taxable element from your gross figure before processing the tax calculation.
HTH
tigtag:heartpuls baby no3 due 16th November :heartpulsTEAM YELLOWDFD 16/6/10"Shut your gob! Or I'll come round your houses and stamp on all your toys" The ONE, the ONLY, the LEGENDARY Gene Hunt :heart2:0
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