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Author Quick question-work Bonus & Tax
MatthewR
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Registered: 21st Oct 02
Location: Rickmansworth
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19th Mar 13 at 15:05   View User's Profile U2U Member Reply With Quote
Getting a bonus this month at work for the year just passed. Its not alot and i dont earn much anyway but does anyone know how much tax you pay on a bonus??
Gary
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Registered: 22nd Nov 06
Location: West Yorkshire
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19th Mar 13 at 15:09   View Garage View User's Profile U2U Member Reply With Quote
22% tax 11% NI from what i can see.

Stick it all in here and see what you get...

http://www.thesalarycalculator.co.uk/salary.php
pow
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Registered: 11th Sep 06
Location: Hazlemere, Buckinghamshire
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19th Mar 13 at 15:09   View Garage View User's Profile U2U Member Reply With Quote
The same as you pay on your income. Normally 20% unless you're LiVe_LeE and get millions of £££ a year
evilrob
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19th Mar 13 at 15:12   View Garage View User's Profile U2U Member Reply With Quote
http://www.thesalarycalculator.co.uk/salary.php

edit: doh! beaten to it.

[Edited on 19-03-2013 by evilrob]
MatthewR
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Registered: 21st Oct 02
Location: Rickmansworth
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19th Mar 13 at 15:16   View User's Profile U2U Member Reply With Quote
thanks
Kyle T
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Registered: 11th Sep 04
Location: Selby, North Yorkshire
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19th Mar 13 at 15:19   View Garage View User's Profile U2U Member Reply With Quote
They'll almost certainly mess it up, so look at your end of march payslip and see your total paid to date and total deductions to date, then compare those figures with what salarycalculator says.

I got over taxed on my bonus last year, noticed it when the above figures mismatched and after a call with HMRC I ended up with a cheque for some thousands

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James
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Registered: 1st Jun 02
Location: Surrey
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19th Mar 13 at 15:33   View User's Profile U2U Member Reply With Quote
Yeh it's just the same as your salary. Unless the bonus takes you into a different tax bracket, in which case it could be more.
MatthewR
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Registered: 21st Oct 02
Location: Rickmansworth
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19th Mar 13 at 15:55   View User's Profile U2U Member Reply With Quote
deffo wont effect mytax bracket with my wages LOL
mattk
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Registered: 27th Feb 06
Location: St. Helens
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19th Mar 13 at 18:17   View User's Profile U2U Member Reply With Quote
tax on wages
tom130691
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Registered: 13th Sep 08
Location: Daventry
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19th Mar 13 at 18:30   View Garage View User's Profile U2U Member Reply With Quote
no tax for me and my bonus as i dont earn enough
Hammer
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Registered: 11th Feb 04
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19th Mar 13 at 18:37   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by mattk
tax on wages


I wouldn't be such a smart arse on a public forum
Gary
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Registered: 22nd Nov 06
Location: West Yorkshire
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19th Mar 13 at 18:40   View Garage View User's Profile U2U Member Reply With Quote
Especially as your the only matt from St Helens, pretty easy to track you down
sc0ott
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Registered: 16th Feb 09
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19th Mar 13 at 18:58   View User's Profile U2U Member Reply With Quote
I dont care about my yearly bonus anymore. The tax, NI and student loan rape it.
dannymccann
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Registered: 9th Aug 06
Location: Doddington, Lincolnshire
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19th Mar 13 at 19:05   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by mattk
tax on wages


Do you not put 30% of your income into a savings account ready for January (I think?) each year?
Gary
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Registered: 22nd Nov 06
Location: West Yorkshire
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19th Mar 13 at 20:06   View Garage View User's Profile U2U Member Reply With Quote
Of course he does same as the rest of self employed people
Kyle T
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Registered: 11th Sep 04
Location: Selby, North Yorkshire
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19th Mar 13 at 20:12   View Garage View User's Profile U2U Member Reply With Quote
quote:
Originally posted by dannymccann
quote:
Originally posted by mattk
tax on wages


Do you not put 30% of your income into a savings account ready for January (I think?) each year?


His "income" will be £12k I reckon, so he'll be putting about £50 to one side

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Toby
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Registered: 29th Nov 05
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19th Mar 13 at 20:16   View Garage View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Kyle T
quote:
Originally posted by dannymccann
quote:
Originally posted by mattk
tax on wages


Do you not put 30% of your income into a savings account ready for January (I think?) each year?


His "income" will be £12k I reckon, so he'll be putting about £50 to one side


If hes LTD and hes clever it wont be any more than £8100.
VrsTurbo
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19th Mar 13 at 20:22   View Garage View User's Profile U2U Member Reply With Quote
Tax on dividends though
deano87
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Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
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19th Mar 13 at 20:30   View User's Profile U2U Member Reply With Quote
http://www.listentotaxman.com is pretty good too.
deano87
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Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
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19th Mar 13 at 20:35   View User's Profile U2U Member Reply With Quote
I'm getting a £2000 bonus this month.

I get £1,180 in my back pocket

EDIT: Make that £1,133.88 as I forgot my pension.

[Edited on 19-03-2013 by deano87]
sc0ott
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Registered: 16th Feb 09
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19th Mar 13 at 20:40   View User's Profile U2U Member Reply With Quote
Its not worth that sick feeling you get after seeing the 'after tax' figure.
deano87
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Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
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19th Mar 13 at 20:45   View User's Profile U2U Member Reply With Quote
Aye?
dannymccann
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Registered: 9th Aug 06
Location: Doddington, Lincolnshire
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20th Mar 13 at 07:47   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by sc0ott
Its not worth that sick feeling you get after seeing the 'after tax' figure.


I dunno, it's better than my bonus this year:

£0
Toby
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Registered: 29th Nov 05
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20th Mar 13 at 09:03   View Garage View User's Profile U2U Member Reply With Quote
quote:
Originally posted by VrsTurbo
Tax on dividends though


bugger all in comparison though.
t_benn_1
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Registered: 28th Sep 04
Location: Shropshire
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20th Mar 13 at 09:48   View User's Profile U2U Member Reply With Quote
My bonus this week as well earn about 27k, about 800 bonus so think ill take about 600

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