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AnnNLG
July 22, 2022
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Do I have to show my state pension in quickbooks

  • July 22, 2022
  • 2 replies
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I receive a state pension into my personal bank account do I have to show this in quick books to pay tax on it
Best answer by Ashleigh1

Hello AnnNLG, 

 

Welcome to the Community page,

 

We would advise you speak to a trained and qualified accountant who will be able to assist you with your query. 

2 replies

paul72
paul72
July 22, 2022

State Pension is (I'm pretty sure) paid without tax deduction - so is counted as taxable income.

(Most) Private Pensions are paid after tax but you must still account for it as income in case other earnings take you through one or other tax thresholds.

 

Whether you enter either in QBO or account for it separately is up to you.

 

Hope this helps.

A
Ashleigh1Answer
July 22, 2022

Hello AnnNLG, 

 

Welcome to the Community page,

 

We would advise you speak to a trained and qualified accountant who will be able to assist you with your query. 

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