P60 not adding up

pollyanna24

Just received my P60 for 2016/17 and the amount that it says I have earned in the last tax year is £30 more than what I have on my own records.

Am I being petty by asking for an explanation as to what the £30 discrepancy is (not sure if I have all my payslips, but I do keep a note of what my gross pay is each month)?

I have told tax credits the figure I thought my total was (not that it matters as I earn too much to receive anything, but I don't want this to equal yet another overpayment).

agrinnall

Do you have £30 of income that is not taxable, for instance something like uniform allowance (although this would normally be £60)?

Dazed_and_confused

Most likely explanations are that you have made a mistake somewhere along the line with your own figures (and you'd really need payslips to check this) or you have something which means some part of your income is not taxable such as pension contributions.

Pension contributions to your employers pension scheme can reduce your gross salary for tax purposes for example gross pay £8000 with 5% pension contribution would be £7600 taxable pay and it is the £7600 which would be on the P60, not £8000.

This all assumes you are referring to the "in this employment" pay box on the P60.

Savvy_Sue

Presumably as well as your gross figures, you have your net ones too (from bank statements). Do they add up to the same as your P60? If they do, I'd assume your records are wrong ...

agrinnall

Savvy_Sue wrote: »

Presumably as well as your gross figures, you have your net ones too (from bank statements). Do they add up to the same as your P60? If they do, I'd assume your records are wrong ...

Unfortunately this won't work, the P60 doesn't show net figures (I've just checked my own from last year to be sure).

Savvy_Sue

agrinnall wrote: »

Unfortunately this won't work, the P60 doesn't show net figures (I've just checked my own from last year to be sure).

I've just squinted at mine: it says the gross pay, and the deductions, which must make the net pay calculatable? Although to be fair I'm not making a lot of sense of the NI section ...

Dazed_and_confused

What about pension contributions, charitable giving by payroll, sports clubs etc etc.

Think it would be nigh on impossible for most to compare bank payments received and taxable earnings which should be on the P60!

Mersey_2

As well as the above, it could just be an error by HMRC or the employer.

Dazed_and_confused

How could it be an error by HMRC?

Employers prepare and issue the P60 and don't even have to send a copy of it to HMRC anymore

pollyanna24

Thanks for everyone's answers.

I've literally just been put on the workplace pension from this month's pay, so thought that wouldn't be the answer as this months pay cheque is done in the new tax year.

Might just dig out my payslips (they're all over the place in my house I'm guessing).