my income and tax rate question

mstar

hello people,

i am a little confused on a little thing. I have been given a bonus (first time in my short career) of £2450 by my employer. My salary is 47,250k,which roughly translates into 40% tax bracket (i think reading on here and other sites) i looked at what is paid in my account and my bonus its £1445.5, i am quiet sure in saying i get taxed on my bonus at the same rate as my salary?(40% doing the rough calculation)

Tiggergirl

The extra £24.50 is the 1% National Insurance, which is paid on anything you earn over and above £770 per week.

mstar

so my suspicions are correct that i have been taxed correctly on my bonus?
damn! that tax man wiping out more then 1k of my bonus :-(

Mathsguy

Yes the tax is correct.

40% PAYE income tax + 1% NI = 41% total deductions, 59% to you.

£2450 x 59% = £1445.50

S**t isn't it!!