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Notional pay

4 replies

Yogurtraisins · 04/11/2024 20:30

Hi
I'm working out my tax return for child benefit. On my p60 there is a total notional section, then a taxable pay section (approx 2.5k less), then tax paid and pension contributions.
Can anyone please advise whether it is the total notional section minus pension or the taxable pay section minus pension that I use? I'm new to this as you can probably tell and Google refers to things like company cars and private health care paid by the employer are the notional section but I definitely don't have either of these, no expenses or travel etc.
Thanks for any advice

OP posts:
TheOneWithUnagi · 04/11/2024 23:12

Your taxable pay will already be reduced by pension, so just use taxable pay. Does pension account for the notional vs taxable difference?

Yogurtraisins · 05/11/2024 22:25

TheOneWithUnagi · 04/11/2024 23:12

Your taxable pay will already be reduced by pension, so just use taxable pay. Does pension account for the notional vs taxable difference?

It almost does but not exactly (£7 different?!)

OP posts:
TheOneWithUnagi · 05/11/2024 22:27

I don't think it matters too much tbh - taxable income is what is relevant for child benefit.

Yogurtraisins · 06/11/2024 12:49

Thanks for confirming.

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