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Really worried about this. I have used Tafkam's pay calculator for years and it's always been pretty accurate so I have asked to go part-time and based my take home pay on what the pay calculator says. Then today, I was given a letter from the Head confirming my new arrangements and pay and it's £1,000 less than the pay calculator says. This is really important for our finances and for the remortgage we are aiming for. So how should I go about sorting out this difference? Please could anyone advise me? Thanks.
It's rather unusual for an employer to give an estimate of take-home pay; is that definitely what they've provided you with? And if so, is there an indicated breakdown of how they've calculated it?
A starting point is to compare it to your current salary. If, for example, you are currently full-time and moving to 50% time, then you would expect your gross pay to be reduced by exactly half, but for your take-home pay to be slightly more than half what you currently take home because of the tax allowances.
Thanks for your quick reply. I looked at it with my husband when he came home and we realised that I had not put in 0.6 for my TLR payment to your calculator. I thought it was automatically calculating that. So school are right but when we put in the figures correctly. your calculator was once again absolutely accurate to the penny. It turns out that we had already been calculating my reduced pay accurately by rounding down so although I'd rather have £1,000 more, it won't affect our budgeting. Hey ho! Thanks again for your help.
Ah, yes, sorry - it's always a difficulty because some people know their TLR by its FTE and some by it's pro-rata amount. It was a pluck of a straw as to which to put in, I'm afraid.
Lord knows where it'll all end up with the new proposals!
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