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Paye & Tax for a Bonus
Xtreme
Posts: 222 Forumite
in Cutting tax
ive received my anual bonus from my company
but , i feel i was taxed to death on it
am i suppose to pay a NI% for a bonus
i though you only pay a % of your sallary for PAYE not NI
can someone shed some lights please
Thnx X
but , i feel i was taxed to death on it
am i suppose to pay a NI% for a bonus
i though you only pay a % of your sallary for PAYE not NI
can someone shed some lights please
Thnx X
0
Comments
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NI has an uncapped extra 1% now thanks to Gordon Brown.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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A bonus is treated exactly the same as salary i.e. employment income and will therefore have tax and national insurance operated on it.
The tax code that you have will ensure tax and NI are taken on any income at your marginal rate.0 -
The bonus needs to be taxed and NI paid in the same way as for normal salary otherwise more would be paid as bonus and less as salary in order to avoid tax and NI................................I have put my clock back....... Kcolc ym0
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Thnx 4 the Info Guys
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