- This topic has 3 replies, 2 voices, and was last updated 2 days ago by
.
Viewing 4 posts - 1 through 4 (of 4 total)
- Posts
Dear tutor,
I have a question regarding one exercise. How can we know that if a pension contribution is a gross number or not?
The sentence in the exercise goes like this:
“Jacob will contribute a total of £12,000 into Initial plc’s occupational pension scheme.”Thank you in advance!
Occupational pensions paid by the employee are paid gross and are a deduction against employment income.
Personal pensions are paid net of 20% income tax and so must be grossed up at 100/80 and are treated the same as gift aid donations.
Viewing 4 posts - 1 through 4 (of 4 total)
- You must be logged in to reply to this topic.