Pregnancy & Birth Clubs <
23/04/2013 at 14:37
Dear lord it's complicated isn't it?
I'm a bloomin accountant! Payroll said they'll give me a break down, but it'll only be gross. I want to see what difference this is going to make to my pocket, so i've had to create a spreadsheet (not that that bothers me, i love spreadsheets).
I do wonder how the less financially minded manage/cope with this stuff - or do some people not really care?
23/04/2013 at 14:39
Mine has always been straightforward cos I only get SMP lol
My work have screwed up a couple of times though and I've corrected them, a few colleagues have said that they'd have no idea if their wages were wrong
23/04/2013 at 14:45
I've been asking my work for this!
I did a rough calculation using one of those take home pay websites and just based a month of SMP on 4 weeks. Obviously it'll be slightly different as I'm paid monthly and SMP is weekly. Also more complicated as I get 100% for 6 weeks, then 50% for next 20 before I go to just SMP. Am hoping the rough calcs I did to work out if we could afford my maternity leave are right!
My work messed up my friends the first month she went onto reduced pay, so I'll believe it when I see it in my bank!
23/04/2013 at 14:51
Yeah I'm paid monthly too and I used to get some months where I'd have 5 weeks SMP and others where it was 4 - I'm sure I either got £495 ish or £615 ish - SMP has gone up since then though
I'm hoping mine screw up this time and pay me the standard SMP weekly rate as I earn less than that usually so am only entitled to 90% of SMP but shall see in July what I actually get!
23/04/2013 at 14:58
I can cope with £495 ish a month, although I guess it depends on your normal salary, as that will effect the amount of tax you pay. Oh I dont know, we'll see I guess!
23/04/2013 at 15:11
This is ours:
Weeks 1 – 8 Full pay less any Statutory Maternity Pay or Maternity Allowance receivable.
Weeks 9 – 26 Half pay plus SMP or Maternity Allowance, provided the two together do not exceed full pay.
Weeks 27 – 39 Statutory Maternity Pay or Maternity Allowance.
Weeks 40 – 52 Unpaid.
which i realise is very good, but it does still start to kick you in the nuts in the half pay bit. I earn considerably more than H, we really can't afford me to be down that much in pay.
I also get paid a monthly salarly, I've had to break that down to a daily rate in order for me to work it out. I've had to split the SMP into daily rates too. It got complicated when i tried to work out the net pay, as it's a new financial year now and the rates have all changed, including the NI which caught me by surprise. I don't normally have anything to do with payroll.
I've decided finally that I'm having 22 weeks off, with two weeks annual leave at the start and then a mixture of annual leave at the christmas/new year bank holidays at the end. I feel bad that i'm not taking the 26 weeks i could, but it starts costing me too much money.
23/04/2013 at 15:18
Sounds complicated! I've just asked my friend whos just come back to dig out her payslips so I get some idea! Guess I'll just see when I get it. I have a rough idea so I think I'll know if I'm getting diddled! I'm assuming with it now being a new tax and the allowences gone up we should all get a little more pay this month?? Better than a slap in the chops!!
23/04/2013 at 15:22
I would offer to share my spreadsheet with you, but i'll all be wrong for you because your dates for mat pay are different to mine.
Yes, my pay went up this month (but what went into my pocket went down because my pension contribution went up to 9%). I do have a calculator for that if you'd like it. (gross to net in the new tax year).
23/04/2013 at 15:25
Thanks, PB but I did just have a look at an online one, will see what I actually get next week!
23/04/2013 at 16:04
But if you get half pay plus smp that's not bad for those 4 months is it? We're lucky and get full pay for 18 weeks then smp. I'm working on the basis that as I'm taxed PAYE I pretty much won't pay tax when I go down to smp.
My only gripe is that because I get childcare vouchers for the duration it won't be worthwhile me doing any KIT days as they would mean I'd end up actually paying for the CCV!
23/04/2013 at 16:08
Yeah, don't get me wrong, half pay plus SMP is really good - it's just I'm not sure how well we're going to cope with the money down until we're actually doing it really. I guess it depends on how much i'm out and about and active. If I'm sitting at home watching telly then i'll probably be loads better off, as i'll be saving on petrol etc. But if i'm tootling about taking the baby to various places, then i might struggle.
What is good is that i can change my mind right up until quite late. So i might get there and think, actually, i'm not ready to go back to work, and we can afford for me not to, so i won't.
I've not calculated my KIT days, it was an added complication i didn't want, plus, i don't know how many i'll do yet!
23/04/2013 at 16:16
Was going to say, remember you won't be commuting, will be eating lunch at home most days etc so savings in a few areas (not for me as I get a daily lunch allowance when working and as field based rarely pay for fuel!). Most baby stuff is cheap, a few pound for baby groups, cup of coffee if you go to a country park, that sort of thing
23/04/2013 at 16:22
Yeah, fingers crossed it won't leave me too out of pocket. christmas being in my lowest pay month is a bit of a pain though! I think i might ask payroll to split my pay into equal chunks. Possibly.
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