working out take home pay...

soffie

hi guys i am looking for a income calculator that takes into account both ni & tax contributions for my job. all seem to vary and be inaccurate. i will be getting marriage allowance and would like to be able to enter the taxcode seperately as well as pension contributions.

tizerbelle

https://listentotaxman.com/

chrisbur

What sort of pension scheme are you in?
Pension tax relief from ‘net pay’
A ‘net pay’ arrangement is used by some workplace pensions, and don’t require you to do anything to get your full tax relief.

Your pension contributions are deducted from your salary before income tax is paid on them, and your pension scheme automatically claims back tax relief at your highest rate of income tax.

Pension tax relief at source
‘Relief at source’ applies to all personal pensions and some workplace pensions. So, if you have a private pension with an insurance company, or a self-invested personal pension (Sipp), this will apply to you.

If you’re paying into a pension through your employer, your employer will take 80% of your pension contribution from your salary (technically known as ‘net of basic rate tax relief’).

Salary sacrifice pension

The type of pension will affect tax and NI

soffie

chrisbur wrote: »

What sort of pension scheme are you in?

hi, its a private employment scheme but matched so i pay 5%, employer pays 5%

chrisbur

soffie wrote: »

hi, its a private employment scheme but matched so i pay 5%, employer pays 5%

Yes but this could be any of the three types.
On your payslip do you have two gross figures that are different, marked as gross and taxable gross. The monthly taxable gross would be lower than the gross by the pension figure.
If there is no difference for gross/taxable gross was a salary sacrifice made whereby your actual salary is reduced by your pension figure and it is this reduced figure that appears as your gross pay on the payslip.

EDIT
From your other post at https://forums.moneysavingexpert.com/discussion/5997779

You do not seem very clear on what figure is appearing in your taxable gross column
Post 1
"ok so if you get for example a basic pay of £2000- and minus off a pension contribution of £150 (for example) so have total earnings as £1850 before tax etc

but..
on your taxable income to date this is £30 higher then listed so £1880 because they have added a medical benefit"

Post 3
"£2000 earnings before tax.. however you then go to taxable income this year and they have added this £30 making it £2030."

Is the pension figure adjusted in the taxable gross or not?

soffie

chrisbur wrote: »

Yes but this could be any of the three types.
On your payslip do you have two gross figures that are different, marked as gross and taxable gross. The monthly taxable gross would be lower than the gross by the pension figure.
If there is no difference for gross/taxable gross was a salary sacrifice made whereby your actual salary is reduced by your pension figure and it is this reduced figure that appears as your gross pay on the payslip.

EDIT
From your other post a

You do not seem very clear on what figure is appearing in your taxable gross column
Post 1
"ok so if you get for example a basic pay of £2000- and minus off a pension contribution of £150 (for example) so have total earnings as £1850 before tax etc

but..
on your taxable income to date this is £30 higher then listed so £1880 because they have added a medical benefit"

Post 3
"£2000 earnings before tax.. however you then go to taxable income this year and they have added this £30 making it £2030."

Is the pension figure adjusted in the taxable gross or not?

its salary sacrifice.
they do a colume for example showing £2000 salary and £150 pension paid meaning figures that get taxed are £1850- (they minus of pension contributions before tax)
the £30 medical benefit is then added seemingly in a seperate part showing £1880 in yearly taxable income to date.

chrisbur

soffie wrote: »

its salary sacrifice.
they do a colume for example showing £2000 salary and £150 pension paid meaning figures that get taxed are £1850- (they minus of pension contributions before tax)
the £30 medical benefit is then added seemingly in a seperate part showing £1880 in yearly taxable income to date.

This sounds like the "net pay arrangement"
Easy way to check is put the figures into "listen to taxman"
Put in the taxable pay figure from your payslip (the £1880 from above) and it should be close to your tax on the payslip.
Then put in the total gross figure (the £2000 from above) and the taxable gross without medical benefit ( the £1850 from above)
If the NI is near the figure for £2000 then you have salary sacrifice
If the NI is near the figure for £1850 then you have salary sacrifice

Salary sacrifice will reduce tax and NI
Net pay arrangement only reduces tax.