maintenance loan calculation
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tondop
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Hello Isaac
Could you clarify for me : my partner salary sacrifices for a pension and in the maintenance loan information it says gross household income less payments into private pension schemes so does this mean either way its the same amount calculated - either the gross less salary sacrifice or just the net taxable income. Also if a bonus is salary sacrificed to pension does the same apply. The wording mentions employment related costs - are these to be reflected on a payslip ? or could an annual rail ticket cost be taken as a cost?
thank you
Could you clarify for me : my partner salary sacrifices for a pension and in the maintenance loan information it says gross household income less payments into private pension schemes so does this mean either way its the same amount calculated - either the gross less salary sacrifice or just the net taxable income. Also if a bonus is salary sacrificed to pension does the same apply. The wording mentions employment related costs - are these to be reflected on a payslip ? or could an annual rail ticket cost be taken as a cost?
thank you
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SFE Isaac
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(Original post by tondop)
Hello Isaac
Could you clarify for me : my partner salary sacrifices for a pension and in the maintenance loan information it says gross household income less payments into private pension schemes so does this mean either way its the same amount calculated - either the gross less salary sacrifice or just the net taxable income. Also if a bonus is salary sacrificed to pension does the same apply. The wording mentions employment related costs - are these to be reflected on a payslip ? or could an annual rail ticket cost be taken as a cost?
thank you
Hello Isaac
Could you clarify for me : my partner salary sacrifices for a pension and in the maintenance loan information it says gross household income less payments into private pension schemes so does this mean either way its the same amount calculated - either the gross less salary sacrifice or just the net taxable income. Also if a bonus is salary sacrificed to pension does the same apply. The wording mentions employment related costs - are these to be reflected on a payslip ? or could an annual rail ticket cost be taken as a cost?
thank you
Thanks, Isaac
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iowecounty
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So just to confirm. If my salary is £30K, I salary sacrifice £10K in pension contributions. My taxable salary is now £20K and it is this amount I declare?
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SFE Erin N
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(Original post by iowecounty)
So just to confirm. If my salary is £30K, I salary sacrifice £10K in pension contributions. My taxable salary is now £20K and it is this amount I declare?
So just to confirm. If my salary is £30K, I salary sacrifice £10K in pension contributions. My taxable salary is now £20K and it is this amount I declare?
That’s correct
Thanks, Erin N
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