Confused with pay and P60

jhgkp

I have just got my P60.Now last October I changed pay grade I went from earing £19400 to £21100 per annum before tax and NI. So effectively I got £90 a month more home each month (after tax and ni taken off). So had 6 months of the increased wage.My P60 said I earned £19700 in last year. Something makes me think this doesn't add up - or am I not adding up? Can anyone advise.Thank you in anticipation.

jobbingmusician

jhgkp wrote: »

I have just got my P60.Now last October I changed pay grade I went from earing £19400 to £21100 per annum before tax and NI. So effectively I got £90 a month more home each month (after tax and ni taken off). So had 6 months of the increased wage.My P60 said I earned £19700 in last year. Something makes me think this doesn't add up - or am I not adding up? Can anyone advise.Thank you in anticipation.

My calculations (assuming tax year runs Apr-Mar and you changed grade at the beginning of a month)

1 year at £19400
Plus 6 months at increased pay = £850
Total pay = £20250

Do your payslips indicate that you ARE actually being paid at the rate of £21100?

chrisbur

Do you have any pension contributions that are deducted before tax? The P60 only shows taxable gross. How does this P60 figure compare to the taxable gross to date on your last payslip for the tax year? Is there a gross to date figure as well as taxable gross to date on your payslip?

Kynthia

As above. Your P60 only shows taxable pay. So if you make any deductions before tax is calculated and taken then your P60 won't show your full salary. This could include pension, season ticket loan, ride to work scheme, payroll giving (charity), share save scheme, childcare vouchers, etc.