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Error - Income Tax Calculator - Money Saving Expert - Pensions HMRC?
woolywooly
Posts: 1 Newbie
in Cutting tax
It looks like there is an error in the income tax calculator available on the money saving expert for the tax year 2023/2024 or 2024/2025. If you put income 140k+, then the relief Pension HMRC reduces to 0 (i.e. even if say £500 per month). It looks like an error as the all the supporting info says that if the relief up to 60k would be received.
(Note, if you change the tax year to 2022/2023, you can see relief. I don't see anything that changed in this period. If you enter 135k for instance, it continues to give the Pension HMRC).
Anyone know if this is an error?

(Note, if you change the tax year to 2022/2023, you can see relief. I don't see anything that changed in this period. If you enter 135k for instance, it continues to give the Pension HMRC).
Anyone know if this is an error?

0
Comments
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Works for me
2023/24
Your results breakdown
Here's how we worked this out...
Year Month Week Gross Wage £140,000 £11,667 £2,692 National Insurance £6,130 £527 £122 Pension £6,000 £500 £115 Pension HMRC £2,700 £225 £56 Student Loan £0 £0 £0 Take Home Pay £81,367 £6,765 £1,561 Tax Free Allowance £0 £0 £0 Tax Paid £46,503 £3,875 £894 Taxable Wage £134,000 £11,167 £2,577 0 -
I think the OP meant £6000 a month. The figure in the column headed Pension HMRC for gross of 140000 goes to £0 when you reach a pension figure of £1239 a month.
On a gross of £135000 and pension of £1239 you also get £0 but when you get to pension of £2465 the Pension HMRC figures re-appear and are still there up to £8000
0 -
I based my calculation on the OP statement (i.e. even if say £500 per month).0
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