This is obviously for the personal contribution to find out the gross contribution when the tax rebate is added back in. It will help settle a little mathematical argument between friends!!
2007-07-17 02:53:56 · 5 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United Kingdom
Its .78 for the 22%
eg... 500 divided by .78 = 641.025
641.025 minus 22%(141.025) = 500
2007-07-17 03:54:12 · answer #1 · answered by Anonymous · 1⤊ 0⤋
The first (500 / 0.78 )
If you contribute £500 into a Personal Pension Plan (SIPP), the SIPP provider will claim back £141.02 Tax.
Your Pension Fund will thus grow by £641.02 per month.
NB. It takes about 4 to 6 weeks for the Tax to be refunded and credited to the account.
2007-07-17 12:13:23 · answer #2 · answered by Steve B 7 · 0⤊ 0⤋
500/0.78 = G, since 22% of the gross(G) is deducted before arriving at the net figure ... G x 0.78 = 500
G = 500/0.78
2007-07-17 10:50:52 · answer #3 · answered by rward_uk2001 2 · 1⤊ 0⤋
£500 * 0.22 = £110 tax
£500 - 110 = £390 gross
2007-07-17 10:07:06 · answer #4 · answered by ChrysaMarie 3 · 0⤊ 1⤋
divide what you have actually paid by 0.78.
it gives you the gross figure.
2007-07-18 13:18:59 · answer #5 · answered by BTB 2 · 0⤊ 0⤋