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UK tax code
Findtruth12345
Posts: 3
Newbie
in Cutting tax
I am trying to work out what my tax code would be in the future.
Can I ask please are my pension contributions on salary sacrifice deduct from my personal allowance. I am paying £300 (pension contribution) every 4 weeks from my salary.
Can I ask please are my pension contributions on salary sacrifice deduct from my personal allowance. I am paying £300 (pension contribution) every 4 weeks from my salary.
0
Comments
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Salary sacrifice has the effect of reducing your taxable income, if that's what you mean?0
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If you are using salary sacrifice you aren't making any pension contributions.Findtruth12345 said:I am trying to work out what my tax code would be in the future.
Can I ask please are my pension contributions on salary sacrifice deduct from my personal allowance. I am paying £300 (pension contribution) every 4 weeks from my salary.
You are agreeing to a reduced salary in return for your employer contributing more to your pension.
As you haven't received the salary your taxable income will be less but you cannot get any pension tax relief on employer contributions.
It's not clear what your actual question really is?0 -
salary sacrifice has no impact at all on your tax code since, as others explain above, the amount sacrificed is not subject to tax in the first place, so cannot either increase or decrease your tax code0
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