maintenance loan calculation

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tondop
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#1
Report Thread starter 1 year ago
#1
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
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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
Hi Tondop, apologies for the delayed response. I have double checked this with my team. We need the gross taxable income before any tax/deductions are made. Salary sacrafice/bonus is not something that needs to be declared as it is already part of the gross income. If your partner is unsure what their gross income figure is, then they can login to the HMRC website online and it will tell them this figure.
Thanks, Isaac
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iowecounty
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#3
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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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#4
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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?
Hi There,

That’s correct

Thanks, Erin N
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