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Self Assessment: When asked about my individual income, should I exclude pension contributions?
icicat
Posts: 243 Forumite
in Cutting tax
Hey folks, so I've got to this question: Was your individual income (all wages and benefits) over £50000?
I take it this means my gross earnings for the tax year? Also should I deduct any pension contributions from that gross amount when considering the question? Thanks!
I take it this means my gross earnings for the tax year? Also should I deduct any pension contributions from that gross amount when considering the question? Thanks!
0
Comments
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It will depend on exactly how your pension contributions are deducted - different schemes work in different ways, some are deducted before tax, and some after tax. What amount is shown on your P60 for last year? That should be the correct figure to use on the self assessment return.0
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