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Help with high income benefit charge and self assessment
Comments
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The figures on my March/April 2018 payslip are as follows;
Total NI : 4645.46
Total Superannuation : 5773.35
Total Pay : 56864.84
Total Taxable Pay : 51091.49
Total Pensionable Pay : 42956.50
Total Pay Subject to NI : 56864.84
Total Tax : 9656.80
I'm a Police Officer and claim Child Benefit but expecting I'll have to pay some of it back before the end of January ... Please could someone advise me which figure I put into the HMRC calculator?
Thank you for helping.A shadowy flight into the dangerous world of a man who does not exist.
A young loner on a crusade to champion the cause of the innocent,
the helpless, the powerless, in a world of criminals who operate above the law.0 -
This is the important bit,
Total Superannuation : 5773.35
Total Pay : 56864.84
Total Taxable Pay : 51091.49
HMRC are correct, you cannot deduct the pension contributions in the calculator because they have already been deducted in calculating the taxable income.
You just need to use £51091.49 as far as taxable income with this employer is concerned.
If you had paid something extra into a personal pension as well then that could be included.0 -
You could make contributions to a personal pension.
https://www.policemutual.co.uk/retirement-ifa/stakeholder-pension/0
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