In my take home pay if I drop down to 4 days and back to standard rate tax

If you know what I mean?

Ta

Surely it depends on what you earn now?

Remember – you only pay 40% on the amount above £42k pa.

Thanks, yeah I know you only pay over £42k ish but there must be a point where the 40% tax you pay makes it comparable with dropping a day and back down.

It may not work but someone mentioned it today and it got me thinking

how can you earn less? work 4 days get paid 40K, work 5 days get paid 50k.

The first 4 days you pay 20% in tax and on the 5th day you pay 40% tax, you still take home more money.

swisstony – Member
It may not work but someone mentioned it today and it got me thinking

Not hard enough it would appear.

For me, Im dropping a day when my wife goes back to work in September. One day less commuting and retaining child benefit makes it well worth it.

Haha, ok so I’m not much of a mathematician but I liked the idea of working 4 days.

Oh well back to doing the lottery

Bear in mind that you have about 8K tax free, and 12%NIC below 42K and 2% over it and have some cost to actually get to the office (probably). If you use the 50K salary as an example, you will easily end up with less than 1/2 of what you earned in that extra day in your pocket.

You’re still better off – but work/life balance and all that, obviously every circumstance is different but I think the choice of an extra day off each week rather than going to work for essentially a 50% pay cut would be very appealing!

You could however be financially better off by dropping back to 20% tax if you have perks with your job – i.e. a company car/health insurance etc. A decent BMW or Audi @ 40% tax could cost an extra 2-3K a year in tax over 20% which wouldn’t leave much change from that extra day…. and if you had free fuel that would be an extra £700 ish in tax!

is this some kind of conceited thread to let us know you are a 40% tax payer thus earn way over the 26k UK average?

quite how anyone would pay you over 40k when your stumped by the maths is puzzling..

My salary is such that any overtime (always double time) is taxed at 40% and with NI it means I’m near enough working for single time, ho hum.

Click here and get a proper answer

There are loads of these calculators about

As stupid as the initial question may seem, there is probably a very fine line where if you have kids, losing Child Benefit, as well as Working Tax Credits at a certain threshold will marginally make a very few 20% taxpayers better off than a very few 40% taxpayers.

CBA to do the maths and see if this makes any noticeable difference though.

I was scratching my head over the BIK’s as mentioned above earlier, but due to having a head cold and a few JD’s, I CBA to work that out either.

You will never earn less, but there will be a point where you don’t earn a great deal more…

The real sting is the massive tax on any pay between 105 – 115I (something like 80%) tax on that band of income!

DrP

I wasn’t going to say it but…

quite how anyone would pay you over 40k when your stumped by the maths is puzzling..

+1

😉

I wasn’t going to say it but…

quite how anyone would pay you over 40k when your stumped by the maths is puzzling..

+1
Train drivers don’t need maths when they’ve got a union.

What has the OP’s mathematical skills got to do with his capability to command a decent salary?

D’oh! I don’t earn enough … 😡

I’d rathe do the similar maths of how much more I’d need to earn to receive the same as I do now for four days a week.

chewkw – Member

D’oh! I don’t earn enough … 😡

That’s what I like to see …… a man who regrets not being able to pay more in taxes.

In my opinion there aren’t enough people with that sort of attitude.

People in glass houses; you’re not your!

People in glass houses; you’re not your!

+1

Basic grasp of English is more important than maths in most roles. Huge black mark against any potential employees for me there!

why not see if you can do 4×9 hr days?

quite how anyone would pay you over 40k when your stumped by the maths is puzzling..

Obviously some people get paid for knowing something other than maths.

It bothers me a great deal that I work with so many people who lack even the most fundamental analytical skills who get placed into very powerful and influencial roles. Non-executive directors are a great example. I wouldn’t trust half of them to tie their own shoelaces properly. I am 100% confident a fair proportion of the ones I meet have help with getting dressed. But they’re really good at talking, which is an important skill I guess.

It bothers me a great deal that I work with so many people who lack even the most fundamental analytical skills who get placed into very powerful and influencial roles. Non-executive directors are a great example. I wouldn’t trust half of them to tie their own shoelaces properly. I am 100% confident a fair proportion of the ones I meet have help with getting dressed. But they’re really good at talking, which is an important skill I guess.

This is a problem i have with a lot of managers, they have come through sales, they know how to sell something, but they often fail to understand things have to be made, that not everything is possible, etc.

Remember – you only pay 40% on the amount above £42k pa.

35k now … plus the tax free allowance.

http://www.hmrc.gov.uk/rates/it.htm#2

£35k PLUS your tax-free allowance!!