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Tax Deductions on Auto-Enrolment
pmks81
Posts: 1 Newbie
Hi All, I'm really hoping someone can help me because I'm totally confused...
I've just been working out my benefits entitlements on entitledto and noticed that my actual tax deduction looks more than it should do because I pay into my workplace pension. I've checked on salary calculator and it seems to agree with entitledto but neither match my payslip.
Should I be seeing that difference in my pocket or does it go straight into the pot (I can't quite understand the government tax relief bit)?
I earn £22k per year so pre tax that's £1833.33
I'm a basic rate taxpayer.
I'm paying 2.4% into pension on auto enrolment.
I'm also paying off student loan plan 1.
If I didn't pay into a pension my tax would be £169 and NI £135.76 according to salary calculator. These amounts are what are showing on my payslip even with the pension contribution.
Is this correct?
Apologies if I'm not being very clear.
TIA
I've just been working out my benefits entitlements on entitledto and noticed that my actual tax deduction looks more than it should do because I pay into my workplace pension. I've checked on salary calculator and it seems to agree with entitledto but neither match my payslip.
Should I be seeing that difference in my pocket or does it go straight into the pot (I can't quite understand the government tax relief bit)?
I earn £22k per year so pre tax that's £1833.33
I'm a basic rate taxpayer.
I'm paying 2.4% into pension on auto enrolment.
I'm also paying off student loan plan 1.
If I didn't pay into a pension my tax would be £169 and NI £135.76 according to salary calculator. These amounts are what are showing on my payslip even with the pension contribution.
Is this correct?
Apologies if I'm not being very clear.
TIA
0
Comments
-
Looks like your pension payments are being deducted after tax (relief at source).
The pension company your employer is using will then claim back the 20% tax relief for you and add it to your pot.0
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