"Simply not solvent!

hypno06

Is it one that they pay into? For example, I pay 2% and my company pay 8%, so mine is a bit of a no brainer, even if it was just for 9 months.

But if it is 2% matched or something like that, it might not be so attractive, especially once you have paid annual fees etc.

Seaxwyn

I pay 3% and they pay 6% - does that mean they pay 6% ON TOP of my salary, or they deduct 6%?

hypno06

That means that you pay 3% out of your wages, and they pay an additional 6% on top of your wages, so you are getting a pension contribution equivalent to 9% of your salary, but actually only paying 3% of it yourself.

Karmacat

Sounds good, but blimey, there's a lot of decisions there, Seaxwyn. Good luck with it all.

Verbatim

Actually as paye income tax is taken off the salary amount you have left after pension contributions it works out as less than 3%. You're not paying tax on your 3% contribution.

Verbatim

All sounding good in the Seawaxyn household despite the convolutions. Can you get the tax office to set your code so that they collect some of the tax due for your self employed income to come off your salary at the paye job? Or would that leave you short? Could be a way of helping to reduce the end of year tax horrors though?

lucielle

How's the job going? Are you sorted for half term and child care?
l

Seaxwyn

Job 1 is going well - enjoying it lots. job 2 starts on 26 May. Childcare is not a big issue for me as OH works so infrequently and my mum lives nearby. I am very lucky in that respect.

taxi73

All sounding great at your end and it should take some pressure off you.

Seaxwyn

I'm at home today and tomorrow for the last time before working full time. I'm looking forward to two days at my desk, which feels like a luxury now that it's about to end.

I want to do my tax return so I know asap the size of next January's tax bill. Before I can start that, I need to clear the floor of a zillion K'nex models so I can spread everything out.

I also need to write a few invoices, move some money around, and think about a better book-keeping system so I can keep track of the financial big picture more easily.