We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
CMS after pension contributions
murrays2
Posts: 133 Forumite
Hi all,
Trying to ensure I pay the correct CMS. Calculator says put in income after pension contributions, but before income and NI.
I earn 29k. I pay 78 quid into an employers pension enrollment. Do I put my income in as 28.1k or do I put it in as 29k.
Bit confused and new to all this. Thanks.
Below is a link to my recent payslip. Can anyone advise on what I put in please:
https://ibb.co/KKxDx8m
Trying to ensure I pay the correct CMS. Calculator says put in income after pension contributions, but before income and NI.
I earn 29k. I pay 78 quid into an employers pension enrollment. Do I put my income in as 28.1k or do I put it in as 29k.
Bit confused and new to all this. Thanks.
Below is a link to my recent payslip. Can anyone advise on what I put in please:
https://ibb.co/KKxDx8m
0
Comments
-
Hi. You'd put 28.1 in. Your payslip is confusing though, your employer is not giving you tax relief on your pension contributions. Your tax should be £259.68 and NI £194.40 if you are getting tax relief. Do you get a rebate each year? If not then apply for one.0
-
No, I don't get a rebate. I moved jobs in August 2019 going from £25k to £29k.
HMRC said I actually owed them money. I have been on the phone to them numerous times as my pay was getting messed up and it was supposed to have been resolved last month. I last spoke to them last month and they said I didn't owe anything and all payments were now up to date and my Jan pay is right, which is the link I showed.
How do I get tax relief?0 -
It could well be that you are already getting it actually. When you see £77 deducted from your pay how much do you see go in to your pension? If it is £100 then you're getting relief, if it is £77 then you're not.
But either way you should use the lower figure for CMS calcs.0 -
See that is what I thought. I phones CMS earlier and they said no put in 29k if it was a private pension I did myself it would be different, but because its an employer enrolled pension and I contribute to it, it has apparently already been calculated in my gross pay.0
-
If I were you I'd go with the lower amount, the CM on the difference over the year will be negligible if you need to repay it (about £2 a week worst case). The CMS will also perform this calculation at some point to give an accurate amount.0
-
See that is what I thought. I phones CMS earlier and they said no put in 29k if it was a private pension I did myself it would be different, but because its an employer enrolled pension and I contribute to it, it has apparently already been calculated in my gross pay.
Training at CMS is still top notch I see...0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 347.8K Banking & Borrowing
- 251.9K Reduce Debt & Boost Income
- 452.2K Spending & Discounts
- 240.2K Work, Benefits & Business
- 616.4K Mortgages, Homes & Bills
- 175.4K Life & Family
- 253.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 15.1K Coronavirus Support Boards