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CMS calculation

 
Mike small
(@mike-small)
Eminent Member Registered

I know there is a calculator tool on the Govt website which you enter key data into and out pops a figure.

However, is there a simple way of working out CMS payments outside of this calculator, based on your earnings, as surely certain criteria, such as when you took out a new job and where you are currently in the financial year and/or your case year is relevant? 

Quote
Topic starter Posted : 26/07/2021 5:28 pm
Daddyup
(@Daddyup)
Honorable Member Registered

Hi

 

Maybe I'm misunderstanding your question, but why would that be relevant? CMS is based on your weekly earnings although the calculator can work it out based on yearly etc.. Therefore it doesn't matter when you started your job or how long you expect to be in it as your weekly earnings will determine how much you pay?

 

 

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Posted : 26/07/2021 7:07 pm
Mike small
(@mike-small)
Eminent Member Registered

@Daddyup because in the past the way they have worked out the payments, it has been inconsistent with what the calculator stated, hence me asking if there is an exact science to their workings.

ReplyQuote
Topic starter Posted : 28/07/2021 10:31 am
Daddyup
(@Daddyup)
Honorable Member Registered

@mike-small ah ok, the online calculator is a guide only, whereas what they work out will be (or should be) more accurate as factors in more variables that the online calculator doesn't eg starting a job part way through a week or multiple job changes, arrears, any requests to consider expenses etc etc... 

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Posted : 28/07/2021 2:37 pm
actd
 actd
(@actd)
Illustrious Member

The basic idea is that the calculation is based on the number of children you have, and this determines the percentage of gross salary that is calculated. After this, other factors can be added in, such as overnight stays, any children you have dependant on you now in a current relationship, any travel expenses to see your children etc.

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Posted : 29/07/2021 6:48 pm
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