Pensions and tax credits

supersavershal

On the tax credits form where you declare your gross salary there is something about pension contributions, I work for NHS and pay into the superannuation scheme about £100 a month do I put this in there or is it for private pensions im confused.

fi_trix29

It really depends how you pay into your pension.

If your employer takes it out of your pay before you ever get it then your payslips/P60/P45 will reflect this in the taxable income. In this case you should not deduct the pension ammount because the employer has already done this.

If you get the money paid to you and then you seperately put the money into a pension (usually private pensions) then you need to deduct the money you pay into the private pension from your income.

For exmple if your salary was say £12000 and you pay £100 into a pension through your employer and another £50 into a private pension then your P60 would show a taxable income of £10800 (the £12000 less £100 x 12 pension payments). You then need to deduct the £600 paid to a private pension (£50 x 12 months) from the taxable income. The income you would declare for tax credits would therefore be £10200.