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Monthly Statements - "Payslips" (Read 7107 times)
Dickie Mint
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Monthly Statements - "Payslips"
Dec 6th, 2012, 4:20pm
 
Whilst I think I agree with Pensions dept that issuing monthly statements of pension payments ("payslips") is pointless as it doesn't change monthly after the annual increase, I have discovered an anomaly.  Having started receiving a State Pension in July the BBC Pension Fund is required, as my "employer", to deduct the extra Income Tax that generates.  The government, strangely for once, not wanting to be involved.

So I have no idea or anything written down telling me my new tax code is.  I'm assuming also that my over 65 extra allowance has been used up due to my BBC Pension being greater than the allowance allows.  

And in a week when the BBC1 daytime Watchdog programme is telling us to check the tax coding I can't for another 4 months.

BBC Pensions tell me that a statement is only issued when the BBC Pension changes by more than £10.  But that's the Gross amount.  One surely should also be issued if the net amount paid changes!

Richard
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Regards,
Richard
 
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Re: Monthly Statements - "Payslips"
Reply #1 - Dec 11th, 2012, 8:58pm
 
get in touch with the Inland Revenue Office which deals with your tax affairs and they will put you straight and provide you with all the details you need to understand the change. JSMR
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WG
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Re: Monthly Statements - "Payslips"
Reply #2 - Jan 15th, 2013, 11:47am
 
I recently started receiving the state pension and rang the Pensions help-line and got a very helpful and accurate description of what would happen to my newly issued tax code. The next month--I received a hard copy pay-slip with the details, the code and the deductions( including the  critical M1 factor added to the new tax code).
Dead on and exactly what I wanted to pass on to my accountant.
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Mr Playlist
 
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