Calculator for Salary Sacrifice

JoeShmoe99

Does anyone have a calculator for pension salary sacrifice? Im in Scotland and with yesterdays announcement of higher income tax rates i want to get into the lower band by paying more into my pension so ideally be great if there is a tool that can add custom amounts to reflect the SG announcement yesterday to work out exactly what i need to contribute % wise (with employer at 5%) to get below the threshold

Kerreh

I tend to use this one (It has a Scotland flag but as I'm not based there you may want to check the figures with your current/known values before using to anticipate changes)

NoMore

Its not too difficult, its just the difference between your Gross salary and the tax band threshold you wish to get to, then calculate that number as a percentage of your Gross salary. You may want to add a little more to make sure you go below the threshold.

Your employer contribution will have no bearing on this.

Marcon

NoMore said:

Its not too difficult, its just the difference between your Gross salary and the tax band threshold you wish to get to, then calculate that number as a percentage of your Gross salary. You may want to add a little more to make sure you go below the threshold.

Your employer contribution will have no bearing on this.

...but still needs to be kept in mind if that + salary sacrifice contributions would exceed the annual allowance.