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Old 27 May 22, 09:00 AM  
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FlorayG
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Anybody understand P60's?

Just got mine
it gives a 'total for year' which is less then the salary I thought I was being paid
have they been underpaying me all year ( by over £1000 in total) or is the P60 based on a different calculation?
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Old 27 May 22, 09:01 AM  
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lizzie145
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Possibly the salary minus your allowance?
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Old 27 May 22, 09:13 AM  
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FlorayG
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Originally Posted by lizzie145 View Post
Possibly the salary minus your allowance?
What allowance would that be? it says 'pay' not 'taxable pay'
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Old 27 May 22, 09:23 AM  
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Do you pay into a Pension Scheme? Is your total for the year your salary minus Pension Contributions?
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Old 27 May 22, 09:27 AM  
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Sorry no help OP.
But could I ask a question to save me starting a new thread. I got mine too & it only has 6 months salary on it. I changed employer back in November, I’m doing the same job & get the same salary in the same work place, but the P60 only has from when I started. Where do I get the other part of my P60 as I need it to complete my sons student finance. Thank you.
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Old 27 May 22, 09:29 AM  
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FlorayG
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Originally Posted by 3rd Time Lucky View Post
Do you pay into a Pension Scheme? Is your total for the year your salary minus Pension Contributions?
I do, but there's nothing about pension contributions on the P60
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Old 27 May 22, 09:31 AM  
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FlorayG
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Originally Posted by LOU LOU DISNEY View Post
Sorry no help OP.
But could I ask a question to save me starting a new thread. I got mine too & it only has 6 months salary on it. I changed employer back in November, I’m doing the same job & get the same salary in the same work place, but the P60 only has from when I started. Where do I get the other part of my P60 as I need it to complete my sons student finance. Thank you.
I changed too about then but I have both on my P60 there are two lines one for 'previous employment' and one for 'current employment' and both are added up for 'total pay'
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Old 27 May 22, 09:57 AM  
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Originally Posted by FlorayG View Post
I changed too about then but I have both on my P60 there are two lines one for 'previous employment' and one for 'current employment' and both are added up for 'total pay'
Mine only has my new employer on it & the pay that I’ve earned for 6 months. We were taken over so everything is still the same. I’ll need to try & speak to HR today.
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Old 27 May 22, 10:00 AM  
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Originally Posted by FlorayG View Post
I do, but there's nothing about pension contributions on the P60
It probably won't mention the pension contributions, but if you earn £20,000 per year and you pay £2000 into a pension scheme it will show your taxable pay as £18,000.
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Old 27 May 22, 10:12 AM  
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P60s show the amount of taxable pay and the tax paid on that amount. HMRC don’t need to know you’re in a pension scheme, so the P60 doesn’t show pension contributions. The taxable pay shown is your salary minus pension contributions. Check your final pay slip of the financial year and the figures should match.
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