LGPS contributions

Paul_255

Year = 23/24
Pay from employment				£53,614.40
UK pension and state benefits				£21,261.00
profit from uk land and property				£27,732.00
Total Income				£102,607.40
Personal allowance				£12,570.00
Pension contributions				£44,118.18

Anyone know what my tax bill is ????

Paul_255

The pension contributions have been into the LGPS

Dazed_and_C0nfused

Paul_255 said:

The pension contributions have been into the LGPS

Sadly that doesn't help explain your income.

What does your P60 show your taxable pay as,

£53,614.40
or
£9496.22
or 
Something else?

Paul_255

The P60 states £49496 (£53,614 - 4418) = £49,496
If we are using that figure for pay for employment
then
we should change the APC figure to £40,000 (pension contributions)
I believe using either combination should result in the same tax figure ??

Dazed_and_C0nfused

Paul_255 said:

The P60 states £49496 (£53,614 - 4418) = £49,496
If we are using that figure for pay for employment
then
we should change the APC figure to £40,000 (pension contributions)
I believe using either combination should result in the same tax figure ??

How did you make this £40k contribution?

That is key as it will either act like the Personal Allowance or increase your basic rate band.

The latter being far more common.

Paul_255

40K payment was made via lump sum payment

Albermarle

Paul_255 said:

40K payment was made via lump sum payment

A lump sum payment to where. A separate personal pension ?

Paul_255

The lump sum was paid into the LGPS

Paul_255

That is key as it will either act like the Personal Allowance or increase your basic rate band.

This is the bit I have the issue with.