Income calculator?
Income calculator?
Author
Discussion

Condi

Original Poster:

19,863 posts

195 months

Friday 20th October 2023
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Is there an online or excel based calculator which shows how much you need to put into a pension to keep below £50k? For example, say you are paid £70k a year, plus bonus, how much would you need to put into your pension each month to get below the £50k tax band? It's easy to see that according to HMRC last year you earnt £60k taxable income (ie after existing pension contributions), and can put £10k into a scheme for last year to get the tax relief, it is much harder to find £10k in one than an extra £800/m, which is really only £500/m from take home.

GiantEnemyCrab

7,966 posts

227 months

DaveH23

3,353 posts

194 months

Sunday 22nd October 2023
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Another good alternative.

https://listentotaxman.com/

M12GTO

38 posts

131 months

Tuesday 24th October 2023
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Sorry to hijack but do you need to do a self assessment when getting below the 50k threshold? I'm on a similar income and considered doing this and claiming child support for a couple of years as my pension isn't very much at the moment. No idea where to start though.