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bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 4524
Experience:  FCCA FCMA CGMA ACIS
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Need someone to work out my Tax and Pensions for 2018.

Customer Question

Need someone to work out my Tax and Pensions for 2018.
Details are.
Full state Pension.7054 inc 3% from April 2018
University Pension. Presently 1017.60 month Gross;
University Pension before increase 1174.80 month Gross.
Hope this is enough information.
Submitted: 1 month ago.
Category: Tax
Expert:  bigduckontax replied 1 month ago.

Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question.

Your earnings for Income Tax (IT) are 33363. Deduct your Personal Allowance of 11850 leaves 21513. You will be taxed at 20% so total tax due is 4303. Remember that your State Pension (SP) is taxable, but paid gross. You should ensure that the tax codes applied to your occupational pensions are reduced to recover the tax unpaid on the SP.

I do hope that you have found my reply of assistance.