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Can pension contributions be subtracted from salary?
w00519772
Posts: 1,297 Forumite
Salary = 44K
Pension Contribution = 5%
Calculation: (5/100)*44000=2200
44000-2200=41,800
£41,400 is less than the threshold for 40% tax. Does this mean that I will not pay 40% tax?
The company does offer salary sacrifice.
Pension Contribution = 5%
Calculation: (5/100)*44000=2200
44000-2200=41,800
£41,400 is less than the threshold for 40% tax. Does this mean that I will not pay 40% tax?
The company does offer salary sacrifice.
0
Comments
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You won't pay tax at 40%. You can use the calculator at https://listentotaxman.com/ to check what tax and NI you are likely to pay.The comments I post are my personal opinion. While I try to check everything is correct before posting, I can and do make mistakes, so always try to check official information sources before relying on my posts.0
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