No idea what my state pension actually is.

WIAWSNB

I've been receiving this now for a year. If I tally up the monthly amounts, will the total sum be net or gross? I presume the former?

Unbludybeliveably, if I log on to the Gateway, it'll happily show me stuff like the NI record, but will not show the actual annual pension I should be receiving (which should be the full). No actual sum.

I want to fill in a tax return, so where do I get this figure?! Surely I don't need to tally up each month's payment, and 'add' back on the presumed removed tax? Why is this so bludy hard... :-(

In short, when on their site can I find my 'pension'?

Ta :-)

QrizB

State pension is paid gross.

If you haven't chosen otherwise, it's paid four-weekly. How much was your payment in eg. January? If you divide that by four, do you get £221.20?

When you say you've been receiving it for a year, did you get any payments at all in the 23/24 tax year? Or is 24/25 the first?

xylophone

https://community.hmrc.gov.uk/customerforums/sa/ac425e42-4b0c-ef11-a81c-6045bd0acaf9

WIAWSNB

QrizB said:

State pension is paid gross.

If you haven't chosen otherwise, it's paid four-weekly. How much was your payment in eg. January? If you divide that by four, do you get £221.20?

When you say you've been receiving it for a year, did you get any payments at all in the 23/24 tax year? Or is 24/25 the first?

Thanks.

I'm getting £940.76 pm into my bank account, June '24 to Mar '25. 

May '24 was less, at £470.38, but it was during that month that I first drew my statie. Apr '25 is more - £959.34

No, now't before May '24.

I just can't figure out why the actual annual 'sum' isn't shown anywhere!

So, are you saying that the amount received in my bank account is 'gross', sans tax? So that is the sum I declare to the HMRC, and tax will then be deducted?

Many thanks for your help.

WIAWSNB

xylophone said:

https://community.hmrc.gov.uk/customerforums/sa/ac425e42-4b0c-ef11-a81c-6045bd0acaf9

Thank you. But that's a lot of words

QrizB

The link from xylophone (above) might help.

Yes, I think that for your first year you add up all the payments you've received but then add on an equivalent weekly amount for any weeks that you accrued in 24/25 between your final payment and the end of the tax year.

If I've got this wrong, someone will correct me.

WIAWSNB

QrizB said:

The link from xylophone (above) might help.

Yes, I think that for your first year you add up all the payments you've received but then add on an equivalent weekly amount for any weeks that you accrued in 24/25 between your final payment and the end of the tax year.

If I've got this wrong, someone will correct me.

So the sums received in my bank account are gross?

Unlike my teacher's pension.

Cheers

molerat

WIAWSNB said:

I'm getting £940.76 pm into my bank account, June '24 to Mar '25.

It isn't monthly, it is 4 weekly so 13 payments per year. That will be £235.19 per week

Apr '25 is more - £959.34

April will be at part last year and part this year rate.  Your likely weekly rate this year will be £244.48 so £977.92 per 4 weeks.

Your on line tax account will show your annual amount under "what makes up your tax free amount.  For 25-26 that will likely be shown as £12703.

Is your tax return not pre populated with he amount ?  Otherwise you are going o have to work it out at he number of weeks due from the date you started receiving it to 5 April - note due and not amounts paid into your bank

FrugaiMacDugal

There is no tax deducted from your state pension, your state pension amount is deducted from your personal allowance to reduce your tax free amount.

You should’ve had a notification early March from DWP regarding new benefit.

You should've had a notification from HMRC Feb/Mar regarding tax code.

If you check your bank statements either side of new tax year you can calculate it yourself.

HMRC Admin 21, The state pension is taxed on the amount to which the person is entitled during the year, so to take account of the fact that the pension increases from the first benefit week that starts on, or after, the first Monday of the tax year, one cannot take the weekly amount x 52, or the 4-weekly amount x 13. It is generally 1 week at the old rate and 51 weeks at the new, unless of course it is a 53-week year.

badmemory

Yes gross unlike your teachers pension.  If you have been taking your teachers pension longer than your state pension then the tax on your teachers pension should have increased to pay to extra tax due.  You should have received your tax code for the 25-26 year is this correct?

WIAWSNB

badmemory said:

Yes gross unlike your teachers pension.  If you have been taking your teachers pension longer than your state pension then the tax on your teachers pension should have increased to pay to extra tax due.  You should have received your tax code for the 25-26 year is this correct?

Not sure. I'd better log on again... :-(

In essence, I haven't paid tax for a few years, since not earning until I drew t'pensions last year. I'm about to fill in my tax return, hence pondering the sums.

Perhaps some of it - the state pensions - will already be populated? My small teachers pension has had tax deducted over the past year, so that must be based on them knowing that my state pension was active too? Or why else would they? (Teacher's pension is well within tax threshold).