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SA - clarification help please!
72Dave
Posts: 1
Newbie
in Cutting tax
Hi
Hopefully someone can put my mind at rest, this seems very strange to me but its my first time having to do a SA – I’m sure its not as complicated as I am making it!
I have a Salary approaching £54k, two kids, claiming child benefit for them both.
My P60 says my Pay was £47.7k with a Tax deduction of £8.8k, the gap between £47k and £54k is obviously my Pension deductions, etc.
Two questions:
1. under my “Pay from my Employer” I am putting the £47k NOT £54k – I believe this is correct?
2. under “Payments to registered pension schemes where basic rate tax relief will be claimed by your pension provider (called 'relief at source').” I am putting in my £2k AVCs – again correct?
The rest I am happy with, the only thing that worries me is that is says they owe me £500!
Other than my AVCs I haven’t mentioned my pensions asthey were removed from the initial £54k?
Thanks so much for any clarification
D
Hopefully someone can put my mind at rest, this seems very strange to me but its my first time having to do a SA – I’m sure its not as complicated as I am making it!
I have a Salary approaching £54k, two kids, claiming child benefit for them both.
My P60 says my Pay was £47.7k with a Tax deduction of £8.8k, the gap between £47k and £54k is obviously my Pension deductions, etc.
Two questions:
1. under my “Pay from my Employer” I am putting the £47k NOT £54k – I believe this is correct?
2. under “Payments to registered pension schemes where basic rate tax relief will be claimed by your pension provider (called 'relief at source').” I am putting in my £2k AVCs – again correct?
The rest I am happy with, the only thing that worries me is that is says they owe me £500!
Other than my AVCs I haven’t mentioned my pensions asthey were removed from the initial £54k?
Thanks so much for any clarification
D
0
Comments
-
The £500 refund is the extra tax relief on your AVC contributions as you are a 40% taxpayer.0
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