paulha
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Simple question can't seem to get a straight answer are private pension payments gross or net when deducted from household income when loan is assessed thankyou
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PQ
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(Original post by paulha)
Simple question can't seem to get a straight answer are private pension payments gross or net when deducted from household income when loan is assessed thankyou
Are you asking about pension income or pension contributions?

Pension contributions are not included in the household income assessment but how they’re excluded depends on whether they’re paid through an employer/payslip (where employers deduct them from the taxable income on a payslip and so they’re already removed from the taxable income figure on the P60) or paid directly to the pension provider (in which case they’re asked for separately).

The forms and guidance are quite clear
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paulha
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not that clear ipay into my own private pension where tax is added by provider do sfe deduct the net figure that i pay or the gross figure including added tax from our gross income to assess household income for sons loan can't get a straight answer
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PQ
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(Original post by paulha)
not that clear ipay into my own private pension where tax is added by provider do sfe deduct the net figure that i pay or the gross figure including added tax from our gross income to assess household income for sons loan can't get a straight answer
You’re asked to provide the total amount you paid (not the figure with added tax) on the form
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They take your gross taxable income and remove the amount you paid if it wasn’t paid through your payslip.
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paulha
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ok thanks so sfe assess household income as gross pay befoe tax and pension contributions as net without tax relief making household income higher suppose they make the rules cheers
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PQ
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(Original post by paulha)
ok thanks so sfe assess household income as gross pay befoe tax and pension contributions as net without tax relief making household income higher suppose they make the rules cheers
The government make the rules. They’re full of odd decisions.

SFE just follow the rules set in legislation (and deal with the complaints about rules they didn’t make).
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paulha
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thanks for clearing up for me cheers mate
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beamyup
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I think you should check the answer on this thread https://www.thestudentroom.co.uk/sho...php?p=88023674
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