Farhan
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Getting confused with SA net pay calculation
Hello, I had a Income £1,17,564 from P60, and other income from interest which made the total amount - £1,19,014 for the tax year 23/24. However, I have contributed towards my pension as a lumsum amount of £19,600 and another pension tax relief £2120 which I needed to claim back from employee tax claim (overpaid). Based on the few forum here I think my net adjusted income should be - £1,19,014 - £19,600 = £99,414 wherein what I can see in the SA calculation = £1,19,014 - £12,570 (personal allowance) - £2120 (tax relief) = £104,324 is the amount tax is calculated and lumsum pensions contribution is not deducted from gross As far as I know we can not deduct personal allowance to get the net adjusted pay and any contribution towards pensions will be considered. based on the above figure what is my net adjusted pay ? Need help on this, please.