Understanding P60 To Help With Benefits Calculator

Bettencourt37

Hi folks,

I was wondering if you could help me? I'm looking to use a benefits calculator, but I am having trouble reading my P60 from 2016-2017. I can't work out the figures.

My final tax code is S1073L.

Pay This Employment - £24,631.48
Total for year - £24,631.48

Tax Deducted This Employment - £2,778.40
Total for year - £2,778.40

National Insurance
Earnings At The Lower Earning Limit - £5,832
Earnings Above The Lower Earning Limit, up to and including the Primary Threshold - £2,232
Earnings Above The Upper Accrual Point, up to and including the Upper Earnings Limit - £16,570
Employee's contributions due on all earnings above the Primary Threshold - £1,988.40

How do I work out my gross and net earnings from the above information? I'm also part of a Salary Sacrifice "Wage Wise" pension scheme at 6%. Will that have to be added onto the figures above?

Your help is greatly appreciated. Please let me know if such information and detail is forbidden to be posted and I'll remove immediately.


Thanks again!

Darksparkle

Gross pay isn’t on P60, you should find that on your payslips if required.

Taxable pay is on your P60 where it says Total for the Year £24631. Your pension is already factored jn here.

If you require your net income it’s pay less tax less national insurance due.

Bettencourt37

Thanks. So just to make sure I’d be wanting to do a sum of £24,631.48 minus £2778.40 minus £1988.40?