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TonyTax
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15915
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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Hello. Im a teacher in a school that became an academy on

Resolved Question:

Hello. I'm a teacher in a school that became an academy on 1st Jan. I received a P45 on 31/12/13 showing total pay as £33,664 and the P60 for end of year showed total pay as £11,431. In total this is approximately £45,000 in earnings but my annual salary is £50,000. Why do you think there is a discrepancy between actual earnings and the P45/60?
Submitted: 2 years ago.
Category: Tax
Expert:  TonyTax replied 2 years ago.

Hi.

My understanding is that at your level of salary the pension contribution for 2013/14 was about 10.1% of gross salary which equates to about £5,000 in your case. That should show as "superannuation" somewhere on your P60. You pay tax on the net of pension contribution salary which is £45,000, the gross for tax purposes in the gross pay box.

I hope this helps but let me know if you have nay further questions.

Customer: replied 2 years ago.

Thanks very much. I don't see superannuation mentioned on the P60 or P45. The question was asked because I'm filling out a tax return and got stuck with q.1. on the employment page. I was going to add the figures from the P45 and P60 together but I now think I should fill in two employment forms as the employer changed when the school converted. Do you agree?

Expert:  TonyTax replied 2 years ago.

As you got a P45, you should complete two sets of employment pages, expecially if there are two different PAYE references. If you handed your P45 to your new employer, then the P60 should have shown both the previous employment pay and tax and the current employment pay and tax. Your payroll people will be able to confirm the pension contribution you paid.

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