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What will I take home if £25K but part time?
I am looking at a job that would be £25,000.00 if it was full time - I am presuming 9.00 - 5.30
.. but I would only be working part time hours - 9.00 - 1.00
Can anybody tell me what I would pick up every month?
I think it is £926 but I want some clarification!
Sorry to be a bit stupid!
.. but I would only be working part time hours - 9.00 - 1.00
Can anybody tell me what I would pick up every month?
I think it is £926 but I want some clarification!
Sorry to be a bit stupid!
0
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£905.20 per month.
I know - it's shocking isn't it!! :eek:
Thanks for the replies by the way!
I'd love to know the proper way to work it out?
not really because the OP will not pay as much tax - the tax ffree amount stays the same regardless of hours worked.
argh - cant find the salary calculator i used before.... try this?
http://www.thesalarycalculator.co.uk/hourly.php
£2,080 before tax
£1,600 after tax
2080 devided by 4 = 520 per week
520 devided by 35 = £14.85 per hour
14.85 x your 20 hours = 297 pw x 52 weeks in a year = £15450.00 per year
this would mean after tax you take home £1,050 after tax
(Providing the assumptions I have made are correct)
was going for the basics, she would need to know holiday entitlement and bank holidays and loads of stuff changes whether she doing a 37.5 hour week, 40 hours 35 hour week is lunch paid and included in those hours or just a percentage of that time its a bit vague to get an exact calculation, so imo an hourly rate based on 25k would have been a good starting point
You need to know how long the lunch break is.
Would it be this one? - http://listentotaxman.com/
there is an error in your calulations. You have divide full time salary by 48 (12 * 4) but then multiplied part time salary by 52.
Oh don't say that - I like his calculation the best - it is coming out higher than mine!!!!
Thanks so much for all of this guys!
(And the lunch is 1 hour)
Plug that into tax calculator = £952 a month take home assuming no deductions such as pension.
Working 9am - 1pm is obviously 4 hours, which is half of the days working hours. Lunch won't be required for a 4 hour shift.
Salary of £25,000 will be cut in 2, so your pro rata salary will be £12,500.
Taxable pay will be £12,500 - £6,500 (I believe thats still the correct amount you earn prior to being taxed) = £6000 minus 20% tax = £4,800. Add back on your £6,500 = £11,300 per annum AFTER tax.
Divide by 12 = £941.66 take home.
Your actual take home will be slightly less when you consider national insurance and any pension.
Calculate the salary £25,000 x 20 hours?? divided by the full time equivalent hours will give you your annual rate.
OP said an hours breaks so 7.5 hours a day or 37.5 hours a week.
Ah okay, so £13,333 is the annual part time rate as you've already said.