P60, tax and payslips

flea72 · 14 June 2019 at 12:09PM

I have 2 different roles within the same company and am paid a different rate for each role (i work one role 3 days, the other 2 days, and get separate payslips for each role). my payslips show my basic pay for each role (annual salary divided by 12) and this figure is correct. However the figure on my P60 is less than the total of both roles.

I also get enhanced pay for any unsocial shifts i work, so i always earn more than my basic.

I do find my payslips confusing, as they show tax/ni and pension contributions on both, but i cant see how they arrive at the figures. Ie one payslip will show i earned £1300 and they took £50 tax, but the other payslip shows i earned £900 and they took £200 tax. Pension and NI are same as tax, with differing amounts taken across both payslips. Student loan payments are never split, they comes off one or the other

Is it just a case of me totalling my payslips, to see if the correct amounts are being taken? But i dont get why my P60 figure is less. My tax code is 1232L

Tia

Pennywise · 14 June 2019 at 12:18PM

If you get two payslips each pay date, then you should get two P60s, one for each.

flea72 · 14 June 2019 at 12:26PM

I only have one P60, and the figure on there is way over what i would have earned in each job individually, but less than what i would have earned in them jointly.

The P60 shows £27k. My basic pay is £16k and £12k. I get about £100-£150pm in unsocial enhancement across both jobs

flea72 · 14 June 2019 at 12:28PM

Actually i have 2 P60s, and they both show the same figures and both are titled ‘replacement P60. These are the only P60s i have for tax year 18/19

Dazed_and_confused · 14 June 2019 at 12:35PM

As far as the tax side of things is concerned your P60 is not meant to show your salary.

It shows your taxable pay. Which can be significantly different to your salary.

For example if salary was £30,000 but you contribute 10% to a "net pay" pension scheme your P60 would show taxable pay of £27,000, not £30,000.

agrinnall · 15 June 2019 at 8:27AM

flea72 wrote: »

I do find my payslips confusing, as they show tax/ni and pension contributions on both, but i cant see how they arrive at the figures. Ie one payslip will show i earned £1300 and they took £50 tax, but the other payslip shows i earned £900 and they took £200 tax. Pension and NI are same as tax, with differing amounts taken across both payslips.

This is almost certainly because all or most of your personal allowance is applied to one job, leaving the other to be fully taxed at your marginal rate. However, we'd need to know the tax codes that have been applied to both jobs to confirm it.

Pension and NI are likely to be correct as they should be different if you earn diffferent amounts, although again real figures would be required to ensure the deductions are correct (there is a potential complication with NI where it's possible that it could be levied on the combined total earned in both jobs but someone with more knowledge than me would need to advise whether that might be the case).

chrisbur · 15 June 2019 at 8:56AM

flea72 wrote: »

I do find my payslips confusing, as they show tax/ni and pension contributions on both, but i cant see how they arrive at the figures. Ie one payslip will show i earned £1300 and they took £50 tax, but the other payslip shows i earned £900 and they took £200 tax. Pension and NI are same as tax, with differing amounts taken across both payslips. Student loan payments are never split, they comes off one or the other

Tia

Rough guess your tax code is being applied to the £1300 and this is being reduced a bit by net pay arrangement tax; but that would leave the £900 being taxed at BR and £200 tax is not right for that. I suspect you are just giving rough figures but if you want an explanation of what is happening you have to give exact figures.
From last payslips for each job
Total gross
Taxable gross
Tax paid
Tax code
Week/month number
Taxable gross to date
Tax paid to date

flea72 · 15 June 2019 at 10:16PM

Payslip 1. Pay slip 2
Gross 1427.19. 1060.62
Taxable 1325.86. 961.98
Tax paid 48.80. 192.49
Tax code 1297L. 1297L
Tax period 2. 2
Gross todate 2983.41. 2255.62
Tax paid 124.60. 409.20

I would say payslip 1, is my main job, as it is more hrs than payslip 2

chrisbur · 15 June 2019 at 11:00PM

flea72 wrote: »

Payslip 1. Pay slip 2
Gross 1427.19. 1060.62
Taxable 1325.86. 961.98
Tax paid 48.80. 192.49
Tax code 1297L. 1297L
Tax period 2. 2
Gross todate 2983.41. 2255.62
Tax paid 124.60. 409.20

I would say payslip 1, is my main job, as it is more hrs than payslip 2

It looks like you have given gross to date not taxable gross to date.
Certainly tax for month 2 is looking Ok assuming your tax code is correct. Your allowance is all against the first payment and the second is at about basic rate, though the figure given is a bit out I would not expect to see an odd 9p on the end. With taxable gross to date figures can check exactly.
Is the tax code showing on payslip 2 definitely 1297L
Forgot to ask for NI figures to check them.

Marcon · 15 June 2019 at 11:48PM

Why not ask the people who do your payroll? It would save a lot of time and you should get an explanation pretty quickly especially if you ring/see them in person (if they are on site where you work). Sometimes the answer is nothing more sinister than 'error' - in which case there's little chance of anyone here being able to spot that for you.

Savvy_Sue · 16 June 2019 at 1:17AM

chrisbur wrote: »

Is the tax code showing on payslip 2 definitely 1297L

Another one to wonder that: having that on both jobs would give you a tax free allowance of nearly £26,000 per year, which is definitely not quite right!

P60, tax and payslips

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