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P60 Query
debsa
Posts: 22 Forumite
Hi all, please can someone help clarify what figure should show on a P60 in the box "In this employment". Is it supposed to show take home pay? and does the figure assume that NI and pension contributions have been deducted? I am below the personal tax threshold as it is a part-time job but this years P60 shows more than I have taken home (because several months are furlough payments, therefore lower than normal) Many thanks for anyone who can address this. :-)
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Comments
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I believe "Pay in this employment" is your gross pay with that employer which is subject to tax, that is after deduction of an pension contributions to an occupational pension scheme (not stakeholder/private pension) but not NI.1
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