In just a couple of minutes, work out potential savings and new net salary after salary sacrifice.
| OUTPUTS | Before salary sacrifice | After simple salary sacrifice | SMART |
|---|---|---|---|
| Salary | £38,000.00 | £36,100.00 | £ |
| Adjusted personal allowance | £12,570.00 | £12,570.00 | £12,570.00 |
| Employee income tax | £4,706.00 | £4,706.00 | £0.00 |
| Employee NIC | £2,034.40 | £1,882.40 | £0.00 |
| Employer NIC | £3,988.20 | £3,726.00 | £0.00 |
| Net salary | £29,359.60 | £29,511.60 | £0.00 |
| Total pension contribution | £3,800.00 | £4,062.20 | £43,888.20 |
|
Additional pension contribution using SMART
|
£40,088.20 | ||