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Taxable and Gross

 
(@keith2024)
Active Member Registered

Good afternoon, I’m new to this site / forum so forgive me for asking a question that may have been asked, but I have on occasion re-visited this topic and tried to research it in the hope of getting a definitive answer over the past twelve years or so.

What can I deduct from my wages?
I understand what gross is but there seems to be no clarification on the CMA website because I have learned that it should read as ‘taxable pay’ which means you can deduct your pension contributions and also the first £12,500 which is *not* subject to tax so for example:

gross pay = £46,500 per year

pension = £6000 per year

non-taxable income = £12,500

so I calculate that my taxable income for CMA calculation would be £28000 and not £40,500 (gross - pension) as I was led to believe for the past twelve years.

 

And secondly, can I deduct paying £30/month for my sons football team contributions as I have been paying this on top as his mum refused and I didn’t want him missing out.

 

thanks in advance 

Quote
Topic starter Posted : 24/07/2024 1:10 pm
(@dadmod2)
Illustrious Member

hi, please see this guide on variations/special expenses

https://assets.publishing.service.gov.uk/media/653bc9f0d10f3500139a6ad1/cmsb026gb-variations-explained-paying-parents.pdf

ReplyQuote
Posted : 24/07/2024 7:44 pm
(@keith2024)
Active Member Registered

Thanks Bill337……..

ReplyQuote
Topic starter Posted : 24/07/2024 7:56 pm
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