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Does this number on my P60 show my net adjusted income?

clarestreets
Posts: 17 Forumite

I’m just trying to figure out my net adjusted income in relation to claiming child benefit.
I’ve dug out my P60 and it shows these figures, does this mean that my NIA is £46,693.32?
I’ve dug out my P60 and it shows these figures, does this mean that my NIA is £46,693.32?
I’ve read all the gov pages and loads of other threads on here but I just cannot get my head around any of it and can’t imagine finding enough “office hours” to remain on the phone with the helplines
if this number on my P60 is what I use it’s gonna be the biggest relief

if this number on my P60 is what I use it’s gonna be the biggest relief

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Comments
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clarestreets said:I’m just trying to figure out my net adjusted income in relation to claiming child benefit.
I’ve dug out my P60 and it shows these figures, does this mean that my NIA is £46,693.32?I’ve read all the gov pages and loads of other threads on here but I just cannot get my head around any of it and can’t imagine finding enough “office hours” to remain on the phone with the helplines
if this number on my P60 is what I use it’s gonna be the biggest relief
No, it means your taxable pay from that employment is £46,693.
You have to add any other taxable income to calculate your adjusted net income. And possibly deduct pension contributions or Gift Aid payments.
Note taxable interest and dividends taxed at 0% is part of your adjusted net income.1 -
So I don't think i have any other taxable income to add. What I can't figure out is if I deduct my pension from this amount too (which is an NHS pension) - but either way this would suggest that I am not going over the existing £50,999 threshold (which I've just seen is changing in April but I am trying to figure out if ibhave any historical payments that may need to be considered0
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clarestreets said:So I don't think i have any other taxable income to add. What I can't figure out is if I deduct my pension from this amount too (which is an NHS pension) - but either way this would suggest that I am not going over the existing £50,999 threshold (which I've just seen is changing in April but I am trying to figure out if ibhave any historical payments that may need to be considered
This is because your salary is probably well over £50k and your P60 already takes into account the NHS pension contributions.1 -
If it's an NHS pension then your P60 figure is the taxable pay figure after your pension contributions. If you have no other invome then nothing yo worry about for child benefit purposes (I'm guessing thats the reason you are asking)1
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That is exactly why I'm asking, such a relief thank you0
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