New Income Tax Checker

John_Pierpoint

Higher Personal Allowance ?
Could this be a pensioner waking up to the 30% pensioner tax band?

jem16

mitsumike wrote: »

Can anyone tell me if "total"income" in HMRC speak includes the State Pension as well as any other pension income. i.e. Do they use the state pension for a second time after already deducting it from the HPA? Thanks>

Your state pension is paid to you gross.

Any income tax due on it will be collected via other income such as a personal pension by a reduction in the personal allowance and therefore a lower tax code.

dbanks84

How do you include the state pension and employment wages, in the income tax checker calculator, to find out the amount of tax you should pay. This is for a female 60-65, employed and claiming state pension.

thanks
Dan

minimeben

Hi this is my first post so i do apologise in advance if its not in the correct forum. I have been offered a new position that includes a company car the car lists at £24,950 with no extras or contribution by myself. The emissions are 126 grams. What i am after knowing is what my monthly take home pay will be from my gross income of 20k per year after company car tax, NI & standard tax. My estimated milegae will be 35,000 per year & all private mileage will be paid by myself.

Many thanks in advance

Adam

DaveK2000_2

As i am way out on what it says i should be taking home to what i actually take, a differance of just over £100. Spoke to my rather large company just to check i was paying the right tax and NI and was told yes.

GREENCROFT2010

I have to say I find the tax checker very odd. I put in my total income (state pension and civil service pension) which is £8448 per annum. My tax-free allowance per annum is £7,475 and therefore I pay tax on £973 which is £16 per month. BUT - if I put in the tax code that I was sent of 45L the checker states that I have to pay almost £1,600 per annum in tax! Not so. I know that the £16 is correct as that is what is shown on my civil service pension slip.

System

GREENCROFT2010 wrote: »

I have to say I find the tax checker very odd. I put in my total income (state pension and civil service pension) which is £8448 per annum. My tax-free allowance per annum is £7,475 and therefore I pay tax on £973 which is £16 per month. BUT - if I put in the tax code that I was sent of 45L the checker states that I have to pay almost £1,600 per annum in tax! Not so. I know that the £16 is correct as that is what is shown on my civil service pension slip.

But what tax code is shown on that civil service pension slip ? The pension providor may not have applied the new tax code yet.

Check your P2 coding Notice to see why the 45L tax code has been set. Is it to repay tax owed from previous years, or is it for other reasons ?

Chantelier

Can anyone help me answer a simple question, I am completely stupid when it comes to these things

My gross take home is around £2960 a month and I do a salary sacrifice of £138 a month for my pension, does this mean that I will now fall in to the High rate tax bracket and will have to pay 40%.

Thanks

mrkbrrws

GREENCROFT2010 wrote: »

I have to say I find the tax checker very odd. I put in my total income (state pension and civil service pension) which is £8448 per annum. My tax-free allowance per annum is £7,475 and therefore I pay tax on £973 which is £16 per month. BUT - if I put in the tax code that I was sent of 45L the checker states that I have to pay almost £1,600 per annum in tax! Not so. I know that the £16 is correct as that is what is shown on my civil service pension slip.

Your tax code includes a deduction for the State Pension (or should do, at least).

If you enter only your gross income from the Civil Service pension and your tax code 45L you should get the correct result.

mrkbrrws

Chantelier wrote: »

Can anyone help me answer a simple question, I am completely stupid when it comes to these things

My gross take home is around £2960 a month and I do a salary sacrifice of £138 a month for my pension, does this mean that I will now fall in to the High rate tax bracket and will have to pay 40%.

Thanks

For 2011/12, you have a personal allowance of £7,475 and the first £35,000 of taxable income is at basic rate.

A total income of over £42,475 would put you into 40% (on the excess only), so you should not be paying 40% tax based on the figures provided.