Child Benefit / State Pension

2»

Comments

  • BoGoF
    BoGoF Posts: 7,093 Forumite
    Name Dropper First Anniversary First Post
    Normally police pension payments are deducted at source from salary so your P60 figure should reflect the adjusted position. Is it the P60 figures you are using, the taxable pay figures on your payslips will suffice as well.
  • bcfclee27
    bcfclee27 Posts: 228 Forumite
    First Post First Anniversary Combo Breaker
    BoGoF said:
    Normally police pension payments are deducted at source from salary so your P60 figure should reflect the adjusted position. Is it the P60 figures you are using, the taxable pay figures on your payslips will suffice as well.
    Yes I’m using P60 figures.
    does that mean it’s already been done so won’t help me so to speak ?

    thanks for your help 
  • Dazed_and_C0nfused
    Dazed_and_C0nfused Posts: 13,385 Forumite
    First Anniversary First Post Name Dropper
    bcfclee27 said:
    BoGoF said:
    Normally police pension payments are deducted at source from salary so your P60 figure should reflect the adjusted position. Is it the P60 figures you are using, the taxable pay figures on your payslips will suffice as well.
    Yes I’m using P60 figures.
    does that mean it’s already been done so won’t help me so to speak ?

    thanks for your help 
    Sounds like it yes.

    If your pension is being paid using the net pay method then you cannot deduct those contributions for HICBC purposes.

    That's because your P60 already reflects the reduced taxable income.  

    For example salary £60k with 5% net pay contribution would mean your P60 only showed income of £57k.
Meet your Ambassadors

Categories

  • All Categories
  • 343K Banking & Borrowing
  • 250K Reduce Debt & Boost Income
  • 449.6K Spending & Discounts
  • 235.1K Work, Benefits & Business
  • 607.8K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards