tax year state pension

patsy43

 state pension is the 5th in one year then the 6th in next year or is it from first Monday after the 6th so if Monday after the 6th is the 10th is pension at old rate up to the 6th 0r the 10th then new rate also if pension paid weekly on a Monday is that Monday  the 7th day or the 1st    am having trouble with tax return

pinnks

Your pension increases from the first benefit week that starts on, or after, the first Monday of the tax year.  Your are taxable on the amount accruing due in the tax year, so have to work out how many benefit weeks end in the tax year.  This is generally 51 weeks at the new rate and 1 week at the old rate but some years have 53 weeks...
 

Marcon

patsy43 said:

 state pension is the 5th in one year then the 6th in next year or is it from first Monday after the 6th so if Monday after the 6th is the 10th is pension at old rate up to the 6th 0r the 10th then new rate also if pension paid weekly on a Monday is that Monday  the 7th day or the 1st    am having trouble with tax return

If you file online, you should find your return is prepopulated with the figure, so if you've not yet logged in to check, perhaps do that before you drive yourself completely mad! Otherwise put in a rough figure based on what you've received in the tax year, and when you submit your return, it'll magically be corrected if wrong.

patsy43

have checked  but the amount dose not match  

pinnks

patsy43 said:

have checked  but the amount dose not match  

That seems to be quite common.  The pre-population seems to be 52 x weekly rate for the whole tax year.  It seems to ignore your first part week when the pension commences, meaning the amount is understated, and ignores the 1 week at the old rate and 51 weeks at the new rate that works well for PAYE coding. 

HMRC staff appear clueless on the issue stating only that they get the figure from DWP so it must be correct and then saying if you don't like it, either overwrite it, or submit the return "knowingly incorrect" and then have it out with the SA team a few weeks later when the return has been processed and appears on your Personal Tax Account.  Even when you "have it out" with the SA team, they seem equally clueless.  I am not impressed at all with this part of their service...  

Marcon

patsy43 said:

have checked  but the amount dose not match  

If HMRC can't get it right, why should you worry? Go with the figure shown and it'll autocorrect if necessary.

Linton

Doesnt your state pension date day of week depend on your NI number so it is not necessarily Monday.?  Has that been taken into account?

p00hsticks

Linton said:

Doesn't your state pension date day of week depend on your NI number so it is not necessarily Monday.?  Has that been taken into account?

The day you get paid will depend on your NI number, but that is not necessarily the same as the day when your entitlement starts, and it's the latter that HMRC want to know   

pinnks

p00hsticks said:

Linton said:

Doesn't your state pension date day of week depend on your NI number so it is not necessarily Monday.?  Has that been taken into account?

The day you get paid will depend on your NI number, but that is not necessarily the same as the day when your entitlement starts, and it's the latter that HMRC want to know   

I am not sure I understand your comment about when your entitlement starts.

I may be wrong but my understanding is that the state pension is a weekly benefit, paid in arrears and that your entitlement arises at the end of each payment week, i.e. when payment would be due, had you opted for weekly, not 4-weekly, payments.  The fact that you are paid on a particular day of the week is irrelevant as your entitlement simply arises on that day of each week.

Unlike the old state pension, the new state pension is apportioned for your first (and last) week, meaning your first payment, to get you onto your normal weekly payment rhythm, will be something between 1 and 7 days.

Armed with the above, you can work out your entitlement in your first and subsequent tax years, and can work out when your first benefit week starts, on, or after, the pension increase day, which is the first Monday of the tax year.

It's just that the non-PAYE part of HMRC doesn't appear to know the law has changed to apportion the first week, or that the pension entitlement changes by reference to the week starting on, or after, the first Monday of the tax year, or, that some years have 53 weeks of entitlement, not 52.

patsy43

I don’t like fingers that don’t add up was ok the year before now dose not make sense sorry if you think I’m making a fuss but have a mathematical brain that likes things to add up

I have asked before but still does not make sense tax year dpwp have given tax office figure of 10076.00 pounds

State pension 25.14 a day so 7th to the 11th = 100.06

Then 27.68 a day from the 11th  24  to 6th 24 = 10020.16 so total 10120.22 have tried other dates ie 5th to 6th but that gives total of  10145.68 don’t know how they get 10076

Pension 22 to 23  351.96 paid every 2  weeks  23 to 24  387.52 again ever 2 weeks   pension  was right for year before  up to and including the 6th April thanks if any wone can make the figers add up  

molerat

Once pension is in payment and into year 2 you are not paid in days / part weeks, it is full weeks - part weeks are only applicable to year 1 and when you die.  So 22-23 was £175.98 and 23-24 is £193.76 per week.  52 x £193.76 = £10075.52. It looks like they use the new 52 week figure (rounded) for populating the form instead of the 1 + 51 method of £10057.74.