Calculating Pension contribution to avoid 40% tax

Be_In_That_Number

Hi there

Can anyone recommend a good calculator to work out how much I should contribute through salary sacrifice to avoid 40% tax on any of my earnings?

Effectively I'd like to know the percentage of my earnings I should put into my pension, but am struggling to work this out using MSE's calculator.

Paul_Herring

Try https://listentotaxman.com/

System

Here is one that can be used for many calculations:
https://www.amazon.co.uk/Casio-MX-8B-Desk-Top-Calculator/dp/B0006L25FQ/

MEM62

This year you need to keep you gross income (including the value of any benefits such as a company car etc) to a maximum of £46,350. From next April the upper limit will be £50,000.

The calculator on your phone will do the trick.

AlanP_2

Above numbers assume you have a standard Tax Code, if yours is different you need to adjust the bandings.

Tom99

[FONT=Verdana, sans-serif]None of the online calculators seem to account for savings income and dividend income. When you introduce those into the equation it makes calculation your SIPP contribution to equal the exact amount you will get 40% tax relief on much more complex.[/FONT]

xylophone

https://www.which.co.uk/money/tax/income-tax/tax-rates-and-allowances/how-to-calculate-your-tax-bill-asjlk3j4r0v6