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TonyTax
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15928
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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U.K. Law My earnings is £553 a week Gross I pay Tax + NIC

Customer Question

U.K. Law
My earnings is £553 a week Gross I pay Tax + NIC about £118 a week deductions
My age is 62
If I take £4,400 pa ( a year ) Pension how does the tax and NIC deduction work out a week or how much tax and NIC a week will I pay
Submitted: 1 year ago.
Category: Tax
Expert:  TonyTax replied 1 year ago.
Hi. If you take a £4,400 per annum pension on a BR (20%) tax code, you would pay income tax on that of £880 per annum or £73.33 per month. Pensions aren't subject to national insurance contributions. I hope this helps but let me know if you have any further questions.
Expert:  TonyTax replied 1 year ago.
Hi.
I'm just following up to find out if my answer helped or if you have any further questions.

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