tax

patsy43

my payment day is  the 3 april tax year 2022 i get my pension 2 weekly so thats for weeks dated 20th to the 27th and then 27th to 3nd  my next payment is 17th april 2023 but this has 3days  of 2022 tax year do i devied payment by 7 to find the three days  hope makes sence thanks 

JGB1955

Are you trying to work out your State Pension received for completion of a tax return? 

If so, you work out 51 x the 2021/22 weekly rate and add it to 1 x the 2022/23 weekly rate.  

patsy43

JGB1955 said:

Are you trying to work out your State Pension received for completion of a tax return? 

If so, you work out 51 x the 2021/22 weekly rate and add it to 1 x the 2022/23 weekly rate.  

so i dont add the 3 days over the 52 weeks is that right 

Dazed_and_C0nfused

JGB1955 said:

Are you trying to work out your State Pension received for completion of a tax return? 

If so, you work out 51 x the 2021/22 weekly rate and add it to 1 x the 2022/23 weekly rate.  

I don't think there is any situation where that would apply 😳.

If you are completing the 2021:22 tax return it would be 1 week of the 2020:21 rate and 51 weeks of the 2021:22 rate.

And for the 2022:23 return it it would be 1 week of the 2021:22 rate and 51 weeks of the 2022:23 rate.

Marcon

I wouldn't worry about it. Do you seriously think anyone at HMRC has the time or inclination to check whether a couple of days of state pension are included on this year's tax return or next year's instead?

JGB1955

Dazed_and_C0nfused said:

JGB1955 said:

Are you trying to work out your State Pension received for completion of a tax return? 

If so, you work out 51 x the 2021/22 weekly rate and add it to 1 x the 2022/23 weekly rate.  

I don't think there is any situation where that would apply 😳.

If you are completing the 2021:22 tax return it would be 1 week of the 2020:21 rate and 51 weeks of the 2021:22 rate.

And for the 2022:23 return it it would be 1 week of the 2021:22 rate and 51 weeks of the 2022:23 rate.

Whoops!  Got myself all muddled-up there!

horsewithnoname

Marcon said:

I wouldn't worry about it. Do you seriously think anyone at HMRC has the time or inclination to check whether a couple of days of state pension are included on this year's tax return or next year's instead?

This is spot on. Bigger fish to fry and less staff for frying anyway 😁

double_dutchy

Wouldn't any payments be taxable in the tax year you receive them, irrespective of what dates the payments are for?

That's certainly how it works with PAYE. When I was being paid every four weeks it was possible to be paid 14 times during one tax year, and you'd have to pay a bigger chunk of tax that tax year because of it.

Dazed_and_C0nfused

double_dutchy said:

Wouldn't any payments be taxable in the tax year you receive them, irrespective of what dates the payments are for?

That's certainly how it works with PAYE. When I was being paid every four weeks it was possible to be paid 14 times during one tax year, and you'd have to pay a bigger chunk of tax that tax year because of it.

State Pension has different rules.

See Taxable Amount section here,

https://www.gov.uk/hmrc-internal-manuals/employment-income-manual/eim75700

xylophone

 less staff for frying anyway 😁

And even fewer members of staff who actually understand how to turn the fryer on or regulate the temperature.

Linton

double_dutchy said:

Wouldn't any payments be taxable in the tax year you receive them, irrespective of what dates the payments are for?

That's certainly how it works with PAYE. When I was being paid every four weeks it was possible to be paid 14 times during one tax year, and you'd have to pay a bigger chunk of tax that tax year because of it.

No, unlike earnings SP is taxed when it is due, not when you get the money which could be up to 4 weeks later.