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Posted Mon, 26 Feb 2024 21:17:59 GMT by WinterChateau
Hello, my gross salary is £90k. I have received a bonus of £13k. I make salary sacrifice pension contributions of £7200 per annum. What should I use as my "net income" figure: £103k OR £103k-£7200=£95800? I have read the HMRC guidance on how to calculate adjusted net income, however it is not clear whether using a salary sacrifice scheme means my 'taxable income' as quoted on this page - https://www.gov.uk/guidance/adjusted-net-income would be £103k or £95800, please can you confirm.
Posted Thu, 29 Feb 2024 08:18:53 GMT by HMRC Admin 19
Hi,

If you make a salary sacrifice, then the pension contributions would already be taken from your salary before the tax was dedcuted and so would not taken off again.

Thank you.
Posted Mon, 13 May 2024 01:09:21 GMT by Louis
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