Taxable Income

Pension Income

  • State Pension
  • Private Pension
  • Widows Pension
  • Industrial Death Benefit Pension
  • An occupational pension from a previous employer.  In general an occupational pension is taxable but there a some circumstances where an occupational pension is not taxable.

Social Security Benefits

  • Job Seekers Allowance – Income based and contribution based
  • Incapacity Benefit
  • Employment and support allowance – Youth and contributory
  • Carer’s Allowance
  • Bereavement Allowance
  • Widowed Mothers and Parents Allowance

Employment and Self employment Income

The following earned income is taxable:

  • Some foreign income
  • Statutory Sick Pay
  • Statutory Paternity Pay
  • Statutory Maternity Pay
  • Statutory adoption Pay
  • Tips
  • Commission
  • Bonuses
  • Redundancy payments over a certain amount
  • Expense payments under PAYE income which are not exclusively incurred in the performance of doing your job.

Additional forms of taxable income

  • Investment income for example Shares
  • Life Insurance Policy gains
  • Interest on savings
  • Trust and Settlement income
  • Annuities Income