Reduce hours to temp. Help me calculate if better off?

Adamc

I have access to a bank temporary position earning £44 per hour gross. (Excludes NI and tax. There is the option to pay into the NHS pension too). 
My current hourly rate is approx £24.38.

I want to drop a day in my full time employment and pick the equivalent amount of hours up in the temporary position.  

I work 37.5 hours per week with an unpaid lunch hour. I would reduce my hours by 7.5 (one day) and pick these hours up for the hourly rate of £44. 

1.) How can I accurately calculate if I am much better off for the time this is available?  

2.) At what point would I go on to the higher rate of tax? Is this when my gross OR taxable wage exceeds £50270?

Dazed_and_C0nfused

1.  You can use the first two calculators here to see the tax and NI impact on a change to your taxable/NIC'ble pay (from a reduction in hours).
Don't forget the NHS pension is a net pay scheme so the pay for tax and NI purposes will be slightly different (as it will be on your current payslips).

https://www.gov.uk/government/collections/how-to-manually-check-your-payroll-calculations

2.  Gross pay/salary is irrelevant for tax purposes, it's your taxable pay which counts.  For example if you are in NHS pension scheme which operate net pay and you earn say £55,000 but pay 10% in pension contributions then your taxable pay will be £49,500.  So unless you had other taxable income (or are Scottish resident for tax purposes) you wouldn't be a higher rate payer.

penners324

Are you freeing up a day a week for work/life balance or to stop going into 40% tax bracket?

Adamc

penners324 said:

Are you freeing up a day a week for work/life balance or to stop going into 40% tax bracket?

Work/life balance.