UK Tax Calculators.co.uk
UK Tax Calculators.co.uk
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Tax and NI to pay on an occupational pension? no employer so no employer NI contributions. Impact please?
Shirley Maskell - 13/01/2011 10:58:11
Excellent - but is the pension tax rebate correct? It looks like it's recovering 25% rather than 20%
Mick - 30/12/2010 15:16:51On the Employer's Pension Option, the Pension Relief Amount shown is the amount of tax saved by using a portion of your salary as a pension contribution - as the tax relief is given at source.
Ray Arman
However, with the Private Pension Option, the Pension Relief shown is calculated as follows - if your pension per year is £6,000, the relief would be 20% of the gross ((6000 / 0.8) - 6000) = £1,500.
View our Pension Calculation page for full details.
How can I enter taxable benefits from my employer e.g. company car?
Colin - 14/12/2010 16:51:12With BIK, tax is paid on the taxable value of the benefit (or the cash equivalent value). You would have to calculate this value and pay the additional tax on it - unfortunately the calculations for BIK are varied and are subject to special rules.
Ray Arman
If you are under PAYE then your tax code should be adjusted to cover your BIK's, or you would pay the tax at the end of the year through a Tax Return.
For now, please enter your tax code and the tax calculation will adjust accordingly. We will look into ways of integrating a useful BIK calculator into the tax calculator.
Tax payable by each band. Earnings by Work, Pension, Interest & Investments would be good. Thanks anyway
Andy - 12/12/2010 15:08:11
What is the 10% savings rate for 2011/2?
Peter - 09/12/2010 13:35:06The starting 10% savings rate for 2011/2012 is increasing from £2,440 to £2,560 - however, if the individuals non-savings taxable income exceeds this £2,560 amount, then the 10% starting rate for savings income will not be available.
Ray Arman