Weekly state pension, how is annual taxable income calculated?

big_mortgage

Hi

Does any one know how a state pension, paid weekly, is calculated as annual taxable income? I assume if there are 53 Mondays in the FY 6th Apr-5th April, as in the year just gone, then those 53 payments count as the annual income for that year?

What if one of those Mondays is a bank holiday and the payment is paid on the Friday before that is in a different year?

Thanks!;)

jennifernil

I looked at my bank statements, counted how many payments I received between 6th April 2009 and 5th April 2010 and multiplied by that number.

And yes, there were 53 payments last year.

margaretclare

It's the total in the year: this is known in advance, announced in the pre-budget report, and communicated to HMRC long before you get your notification.

Debt_Free_Chick

Irrespective of the number of Mondays in the year, it's 52 times the weekly amount.

However, for tax purposes, it's the amount actually received in any tax year and that could be 53 weeks of pension.

big_mortgage

Thank you all