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Salary Sacrifice to lower tax bracket?
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You don't ever need to tell HMRC about salary sacrifice pension contributions, primarily because you aren't contributing to the pension, you are agreeing to a lower salary in return for your employer contributing.
As zagfles says you could update your estimated taxable pay figure (the amount you now expect to see on your P60).1 -
ByondDoubt said:cloud_dog said:the benefit of 'lumpy' contributions
How should I proceed with regards to the HMRC?
It seems that I should inform them now that I will be increasing my salary sacrifice to reduce my annual pay, allowing them to adjust the tax code and recalc our entitlement to child benefit.
Would that also require that I explain the intent to go with 'lumpy' contributions, or just advise of the end-of-year target?Personal Responsibility - Sad but True
Sometimes.... I am like a dog with a bone0 -
Thank you all again for the advice and guidance.
I have updated the value on the personal tax account, and informed pay roll of the intended change.
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