40% tax query

Roryboy2011

Hello, my salary, car payment and flexible benefits pot comes to £63,590.52 pa. I am making my pension contributions and AVC's via salary exchange, this is a total of 13,963.80 pa. Does this mean my taxable income is below the threshold for 40% tax? 

Dazed_and_C0nfused

Have you got any other taxable income like interest or dividends?

You need to check what method is used to pay the pension contributions to understand if they have reduced your taxable income or not.

Relief at source contributions do not reduce your taxable income.  But they do increase your basic rate band.

TheSpectator

Do you have your final 24/25 payslip yet, if so what is the cumulative taxabke pay for the year?

Albermarle

Dazed_and_C0nfused said:

Have you got any other taxable income like interest or dividends?

You need to check what method is used to pay the pension contributions to understand if they have reduced your taxable income or not.

Relief at source contributions do not reduce your taxable income.  But they do increase your basic rate band.

OP said
I am making my pension contributions and AVC's via salary exchange, 

Salary Exchange is another way of saying Salary sacrifice AFAIK

Roryboy2011

TheSpectator said:

Do you have your final 24/25 payslip yet, if so what is the cumulative taxable pay for the year?

Yes, I had overlooked that I was given a one-off honorarium payment in January so my taxable earnings for the full year are showing at £55,522.90. Your question has helped me to answer my question, thank you.