Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Paul Cullen
    • By Paul Cullen 13th Jul 18, 8:39 AM
    • 1Posts
    • 0Thanks
    Paul Cullen
    Student Maintenance Grant Parental contribution calculator
    • #1
    • 13th Jul 18, 8:39 AM
    Student Maintenance Grant Parental contribution calculator 13th Jul 18 at 8:39 AM
    Could anyone please help i am looking to calculate the amount of money I will need to save to top up my daughters grant next year for subsistence

    I understand the advice on the website and the calculator other than what they define as taxable income , the student loan advice line on the government website is useless and the advice is contradictory
    I essentially am trying to establish the definition they use for taxable income i.e. is it the gross salary earned by myself and my wife or is it the salary after tax allowances via tax code which is significantly different in our case nearly 19K different

    when I asked the student loan helpine I was met with "what is a tax code !" , then contradictory advice of first use the gross figure , then use the net figure and then use the gross figure again!

    The people answering the phones clearly have no clue , can anyone please advise so we can get our calculations correct on how much we need to save to support our daughter

    many Thanks
    Paul
Page 1
    • _shel
    • By _shel 13th Jul 18, 2:36 PM
    • 1,617 Posts
    • 2,830 Thanks
    _shel
    • #2
    • 13th Jul 18, 2:36 PM
    • #2
    • 13th Jul 18, 2:36 PM
    Gross salaries plus any other income
    • Spendless
    • By Spendless 13th Jul 18, 7:03 PM
    • 20,445 Posts
    • 34,029 Thanks
    Spendless
    • #3
    • 13th Jul 18, 7:03 PM
    • #3
    • 13th Jul 18, 7:03 PM
    Gross salaries plus if you receive any other benefit in kind eg company car/s they need including.
    • peachyprice
    • By peachyprice 28th Jul 18, 5:39 PM
    • 19,909 Posts
    • 46,056 Thanks
    peachyprice
    • #4
    • 28th Jul 18, 5:39 PM
    • #4
    • 28th Jul 18, 5:39 PM
    The .gov calculator asks for 'household taxable income'. Taxable income is income before tax/NI is applied.
    Accept your past without regret, handle your present with confidence and face your future without fear
    • agrinnall
    • By agrinnall 29th Jul 18, 10:52 AM
    • 21,420 Posts
    • 17,238 Thanks
    agrinnall
    • #5
    • 29th Jul 18, 10:52 AM
    • #5
    • 29th Jul 18, 10:52 AM
    The key taxable income figure is the one labelled that on your P60. For most people in employment it will be gross salary - pension contributions, but if you also receive benefits then you would need to add in any of those that are taxable, and in a small number of cases there will be other income sources (for example, profit from rental income) that would need to be taken into account.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

1,854Posts Today

6,736Users online

Martin's Twitter