Jobsharing in Primary - take home pay?

Cash_Q

I'm daydreaming about the idea of job sharing. It's more than likely not going to be an option in the near future but it would be nice to know whether or not to rule it out completely.

Has anyone done it that can advise how it worked out financially? I have heard 60% thrown around a bit, DES info states 50%. Is the extra 10% coming from reduced income tax, reduced USC and other contributions? Is there a formula I can use to calculate what I would take home?

I'm coming to the end of my maternity leave and returning to work I will spend about 120 per month on petrol and childcare 880 per month, so saving half that would be something else I'd be taking into account.

Thanks in advance for any guidance.

Blanchy90

I looked into it with my wife and the take home pay is around 60% this is due to less tax and other deductions like pension and union. There's no set formula I dont think you would need to look at the different tax bands etc.

We met with cornmarket and they went through all the figures with us.
Childcare would be a massive saving as long as you can get somewhere that will take them half time, as for petrol it wont work out as half as you will still use the car when your off but it should still be cheaper.

Cash_Q

Blanchy90 wrote:

We met with cornmarket and they went through all the figures with us. Childcare would be a massive saving as long as you can get somewhere that will take them half time, as for petrol it wont work out as half as you will still use the car when your off but it should still be cheaper.

Thanks for that, Cornmarket is a good idea. As for petrol, I've been off work for the past 6 months and only spending about 20 per month so still a big saving to be made.

Millem

Cash q are you going to do 3 days then 2 days? Will your childcare provider allow it.

I reckon you get around 66% net as long as you share tax bands with your husband.
Sick leave entitlement is halved though which is a big joke.

I am hoping (in vain) that the union will get us 1 day parental leave. It is in tui magazine.

Cash_Q

Millem we're about to start using a childminder. We'd obviously have to agree with them about it or find abother minder who'd be ok to do it. In my area there's an abundance of people looking to mind kids in their own home so I don't see that being a problem.

My husband earns a good bit less than me and we are jointly assessed, although I don't fully understand the taxation system so I'm guessing me earning less would just leave me paying less tax and him the same tax? He takes home maybe two thirds what I do, so he probably wouldn't need some of my tax credits moved over, although I don't know really.

That's a joke about the sick leave, I hadn't considered that.

Millem

Oh stop do not get me started on sick leave.
Sick leave gets worse so say you are working mon-weds, then thursday-friday....you are out on wednesday week 1 and thursday week 2.....that is 9 days.
And you only get 46 full paid in rolling 4 years on job share. 46 half pay (which is half of your job share salary).

I really hope I am wrong on this but this is what I made of it when I looked into it myself.

At least increment is only 1 year though but each year is only 1/2 year for pension.

You keep all your tax credits it’s your tax bands you would share with your husband so he pays less at higher tax rate.