Bonuses on SOA?

wurzella

How would you deal with performance related bonuses on the SOA? For example, for last year I got around 3.5K bonus/commission, paid around 2 months ago, instantly gone on paying off debt.

For this year I would be very surprised if the place I work is still open at the end of the year, if it is my bonus will be negligible. What would I want to put on the SOA under average take home pay? If I add it in it will give a figure £300 per month higher than what I actually get

nervousmother

I would deal with it as and when, meaning if you receive a bonus just contact your OR within 21 days and tell them about it

wurzella

So... leave it off the SOA altogether? :eek:

nervousmother

is the bonus guaranteed? what you dont want is to be paying a ipa on a figure you dont know is true.. let the OR know you may get a bonus although you dont know how much and tell them you will inform them if you do get one.

wurzella

Marevellous!! Just what I wanted to hear, thanks a lot nervousemum :T

movingforward2010

they took my taxable £150 bonus

wurzella

The problem I've got is, as nervousmother said, it's not a guaranteed bonus and I really can't see me getting anything for this year. So, if they make a ipa on the figure including my bonus I'll be back going bankrupt in a year's time!

tigerfeet2006

NM is right you just put your normal monthly wage down on the SoA. That is your normal wage and what you are guaranteed each month to live on.

When you get any bonuses then you notify the OR within 21 days of recieving it, this is what he would expect you to do and when you go BR you will sign legally binding forms to say this is what you will do.

wurzella

That's great. Thanks a lot guys. He will obviously see my last one on my bank statements so would I be best to admit it up front as soon I speak to them? Show that I'm honest