Personal Tax. Employers/Employees pension contributions
reddwarf
Registered Posts: 528 Epic contributor 🐘
Our tutor has been off for 4 weeks with swine flu so I'm teaching myself PT!
Here's the question. Employees contributions to pension is not taxed therefore it is taxen off in the tax computation. Employer's contribution isn't even referred to in the tax computation - is that right?
Which figure goes on the tax return? The net income, i.e. less the employee's contribution to pension or the gross amount (I believe it should be the same as the P60 which I think would be the net amount).
Thanks anyone
Here's the question. Employees contributions to pension is not taxed therefore it is taxen off in the tax computation. Employer's contribution isn't even referred to in the tax computation - is that right?
Which figure goes on the tax return? The net income, i.e. less the employee's contribution to pension or the gross amount (I believe it should be the same as the P60 which I think would be the net amount).
Thanks anyone
0
Comments
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The employees contribution is the gross amount as its deducted from earnings before the earnings are taxed, so whatever the employee has paid into an employer run pension scheme should be the amount deducted from their total employment income, as far as i understand it if that helps?0
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