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I read that if your taking mat leave over 2 tax years it’s worth spreading it out and you’ll save abit of money. I spread mine but I won’t do that again as I kept getting paid wrong I’ll just put some away on the months I get more
@Lucy on the first few months where you are paid more will you not be taxed more?than the months where you are getting less?
I could be wrong with this and don’t know if I’m going to explain it right but here goes- So on your monthly payslip you get ‘paid’ x amount which is for example 30/31 days full pay or 30/31 days half pay- if you get your pay spread you have a minus amount to take it down to what you should be getting with it be spread. My understanding is that your taxed on that enital amount x amount full or half pay not the amount you actually get. It’s like with your pension your pension contributions go on the whole amount not just what you get. So hmm maybe you do pay more tax. I can’t get on my payslips to look again. Does that make sense? As I say I could be totally wrong but this was what I got from it during my last mat leave xx
You'll pay the same amount of tax over the year in total, it will be the same percentage taken of your total earnings for the whole year. So the months you have more earnings you pay for tax, the months you earn less you pay less tax. I've spread mine out so I don't worry about the drop in pay, it will stay mainly the same throughout my whole leave
It doesn’t make a difference to tax your still receiving the same amount, it depends if you can financially budget and live on just smp after your first 6 months. I spread mine equally over 9 so I had the same each month. It’s personal preference really x