Smart Adjust

thedivvy

Hi I work for a company that recently subscribed to what they refer to as "SMART ADJ", basically it is a method of using the tax system to help with pension contributions. It was set up a while ago and seems to be a good idea, unfortunately I can't remember how it works now and I think it is having an impact on the figures I report for tax credits.

For tax credits I'm supposed to declare gross pay less pension contribution, I understand this figure is on my P60. However I've suddenly realised that unlike previous years the gross to date and the total taxable to date on my payslip are the same value (total taxable used to be same as P60). This is because the smart adj value appears in the pay & allowances column where it used to appear in the deductions column as a pension contribution.


Question: If I add up the SMART ADJ for the year and subtract it from the gross figure will I be reporting correctly? Because I don't remember how and why SMART ADJ works I can't be sure, can anyone help please?