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  • FIRST POST
    • KCailey
    • By KCailey 20th Apr 17, 8:51 PM
    • 11Posts
    • 0Thanks
    KCailey
    Income Tax calculators and pension contributions
    • #1
    • 20th Apr 17, 8:51 PM
    Income Tax calculators and pension contributions 20th Apr 17 at 8:51 PM
    My expectation vs results from online calculators.

    My expectation:
    Gross: £45 000 PA
    Pension Contribution: 0% PA
    Net: £2 800 PM

    Gross: £55 000 PA
    Pension Contribution: 18.2%=£10 000 PA
    Net: £2 800PM

    Ive tried this on a few calculators and they give me the same result £2 470.

    **Sorry I dont have enough posts to post an image

    Gross Pay 100% £55,000.00 £4,583.33
    xTax free allowance 20.9% £11,509.00 £959.08
    Total taxable 79.1% £43,491.00 £3,624.25
    xTotal Tax due 19.4% £10,696.40 £891.37
    20.0% rate 12.2% £6,700.00 £558.33
    40.0% rate 7.3% £3,996.40 £333.03
    45.0% rate 0.0% £0.00 £0.00
    National Insurance 8.4% £4,623.52 £385.29
    expandPension [you] 18.2% £9,999.00 £833.25
    Pension [HMRC] 12.1% £6,662.67 £555.22
    Total Deductions 46.0% £25,318.92 £2,109.91
    Net Wage 54.0% £29,681.08 £2,473.42
Page 1
    • KCailey
    • By KCailey 20th Apr 17, 8:53 PM
    • 11 Posts
    • 0 Thanks
    KCailey
    • #2
    • 20th Apr 17, 8:53 PM
    • #2
    • 20th Apr 17, 8:53 PM
    Now I can
    Last edited by KCailey; 20-04-2017 at 8:56 PM.
    • RickyB2000
    • By RickyB2000 20th Apr 17, 10:31 PM
    • 270 Posts
    • 162 Thanks
    RickyB2000
    • #3
    • 20th Apr 17, 10:31 PM
    • #3
    • 20th Apr 17, 10:31 PM
    I think it is because it is taking your 18.2% as your contribution and is then ADDING another 12.1% of tax relief (so a contribution of 16k). If you set your contribution to 6,000 the number add up as you expect.
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