How Much Tax will i have to pay?

eskbanker

https://forums.moneysavingexpert.com/discussion/comment/82130125#Comment_82130125

The payslip isn't visible (to me at least) but once you figure that out, it'll be worth asking your question in a more focused manner than 'what is this all about?', i.e. what specifically do you want to know?

faringdon

Thanks, it goes on about Holiday pay, and i wonder if i have to treat this as an "Income" for the SA purposes?

Also, with MTD coming in (already), there are going to be five submissions per year…and the cost of getting an accountant to do that will be >£1k per annum. So i think people will have to just do as i do and maximise ones tax bill and do it yourself, and save money by avoiding the accountants fee. "Proper" companies will of course need an accountant.

faringdon

Sorry does anybody know from this payslip what was payed into my pension?…was it £22.62 or £270.25?

It looks like the £270.25 was what they think i was payed as pension at the companys where i worked before this job?

faringdon

In the Tax Return i accidentally clicked "yes" to "pensions saving tax charges"…and it wont let me change it…..its telling me to use the "delete link" in the bottom right of the page, but there is no such delete link…….does this mean i simply have to delete the entire tax return and start all over again?

DRS1

https://forums.moneysavingexpert.com/discussion/comment/82130291#Comment_82130291

I am not an accountant and not familiar with payslips but to my untutored eye it looks like the employer pension contribution was £22.62. Note that is an employer contribution and has no business going anywhere near your tax return.

As to the £270.25 described as Pension Pay I do not know what that is. With auto enrolment schemes the contributions don't have to be on the whole amount of your pay. They are allowed to exclude some of it see here

UK Workplace Pension Auto-enrolment 2026/27: 8% Minimum Contribution

I did wonder if it showed how much was left after the excluded bits but then 8% of £270.25 comes to £21.62 not £22.62. So I don't know.

Also on there is a deduction described as AE SMART Sav (31.82). I am guessing that that is an employee pension contribution but you may know different? If I am right then that is a figure you would put in your tax return. But you would put in the grossed up figure - ie including the tax relief claimed by the pension scheme. You should check with the scheme to make sure they did claim that tax relief.

BUT SMART can be a way of describing salary sacrifice but then why would you sacrifice £31.82 for a 22.62 contribution?

Anyway you didn't ask about so I guess you know what it is.

DRS1

https://forums.moneysavingexpert.com/discussion/comment/82130336#Comment_82130336

No idea I have never had that happen but can you not just go back to a previous page without saving anything on that page?

sherlock228

https://forums.moneysavingexpert.com/discussion/comment/82130291#Comment_82130291

blimey, do you seriously not understand the difference between employee and employer contributions to a pension scheme? Did you not bother to find out what the employer contributions would be when you considered whether to take that job in the first place?

faringdon

Thanks but no i dont know…..I always anticipate that i will not have any pension contribs if i can help it……most UK electronics co's are "token" only…most of the income is coming from a perfectly legal, behind the scenes "Chinese electronics importation scheme"…so i like to get the job done and then hunt the next juicy job somewhere else…most UK Elec co's tend to just stagnate their engineers over time…best to just do the work and go if you can.

Also, i find all co's have the same pension contribs anyway.

Anyway

Wow, without doubt the best free vid on how to do the tax return…

https://www.youtube.com/watch?v=1kIniJf2TMc

….so it appears that you get a "free £1000" just for being a sole trader in the tax year(?)

Also, he puts in £60 for expenses as if no receipts are even needed for that(?)

I need to rewatch the bit about knowing whether to say if your sole trader business closed or not during the tax year……well..i dunno….i didnt get any more sole trader gigs after Nov 2025 so in that sense it closed…….but does that mean i have to declare it closed? Presumably if you dont declare your sole trader closed in the tax year then you have to do a tax return for the next tax year even if you dont do any sole trader work in that year?

Also, i did 23 working days of sole trader work in the tax year so it looks like i can only pay in NICs in relation to that(?)……..though i think my PAYE NICs have taken me over the state_pension_threshold so i will just bypass the section on NICs(?)

And i love the bit about how you answer "did you participate in any tax avoidance schemes"….hahaha LOL…the way he dryly says "answer yes and you will be getting a phone call"…..hahahah. LOL

Grumpy_chap

so it appears that you get a "free £1000" just for being a sole trader in the tax year(?)

Also, he puts in £60 for expenses as if no receipts are even needed for that(?)

Oh dear - I did not watch the video but you seem to have mis-understood what seems to be a reference to Trading Allowance. You cannot claim that in addition to claiming actual expenses.

faringdon

Thanks, but i wont be claiming any expenses…so presumably i get the £1000?