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Student Loan and Taxable Income
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sdr204
Posts: 8 Forumite
in Cutting tax
Hi
On my payslip I have a gross figure, then deductions for tax, NI, Student Loan and Pension.
The 'taxable income' figure that my employer submits every month to HMRC is the gross figure, minus the pension deduction.
I would have thought the 'taxable income' figure sent to HMRC would be gross minus pension minus Student loan deduction.
Can anyone advise before I raise this with my employer?
Thanks
On my payslip I have a gross figure, then deductions for tax, NI, Student Loan and Pension.
The 'taxable income' figure that my employer submits every month to HMRC is the gross figure, minus the pension deduction.
I would have thought the 'taxable income' figure sent to HMRC would be gross minus pension minus Student loan deduction.
Can anyone advise before I raise this with my employer?
Thanks
0
Comments
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The taxable income is the figure that is used to calulate your tax liability and your student loan payment. In your case that is your gross pay minus your pension contribution, exactly as your employer puts it on your payslip. There's nothing for you to raise.0
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Many thanks for the quick reply, appreciated.0
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