P45 pay entries

radiohype

I was comparing the amount in 'Total pay to date' in Box 7 of a P45, from this year 23-24, with the amount shown in my final pay slip and noticed the value in the pay slip which correlates with the P45 value is actually the 'Taxable pay' in the pay slip. Isn't this incorrect and the amount shown in the P45 should be the 'Total pay' shown in the pay slip ie the gross amount. I entered the Taxable pay in the gross amount of my Self Assessment before checking against my pay slip; I shall have to change value to gross amount in self assessment. My suspicion was confirmed when I saw was due a substantial tax refund in my self-assessment calculation which as the employment was PAYE, was not expected.

Dazed_and_C0nfused

HMRC are interest in taxable pay.

Is the higher amount before net pay pension contributions are factored in?

radiohype

Thanks, I think you may be correct as I did make company pension contributions. However I have now managed to contact my previous employer and they have confirmed that I should use the total gross pay shown in my final pay slip for my Self-Assessment payment entry; this value would have been shown in my P60 if I was to get one. So ignore P45 values.

chrisbur

radiohype said:

Thanks, I think you may be correct as I did make company pension contributions. However I have now managed to contact my previous employer and they have confirmed that I should use the total gross pay shown in my final pay slip for my Self-Assessment payment entry; this value would have been shown in my P60 if I was to get one. So ignore P45 values.

If you enter your total gross on your SA you will end up owing tax.  You only need the taxable gross figure. The figure that appears on a P60 is always taxable gross.  Assuming that your new employer (if you have one) received your P45 in time then the P60 they issue will show your taxable gross figure along with your tax paid figure as details for previous employment.

[Deleted User]

radiohype said:

Thanks, I think you may be correct as I did make company pension contributions. However I have now managed to contact my previous employer and they have confirmed that I should use the total gross pay shown in my final pay slip for my Self-Assessment payment entry; this value would have been shown in my P60 if I was to get one. So ignore P45 values.

The total gross pay, based on what you said previously with respect to your pension contributions, would most certainly not correspond to any P60 that you would have received had you remained in employment. 

sheramber

What date is your P45 issued to?