📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

can you claim tax back on retention bonus

Options
hi i heard a rumour you can claim tax back on your retention bonus i am on the new system.
not sure if its true because if you could everyone would
anyone heard of this

Comments

  • phillip3153
    phillip3153 Posts: 33 Forumite
    Surely you are on PAYE and if it is tax free then your pay computer thing will work it out for you?
  • Your admin office will be able to tell you whether it's taxable or not. If it's not, JPA should recognise this and take it into account.
    From Starrystarrynight to Starrystarrynight1 and now I'm back...don't have a clue how!
  • martinbuckley
    martinbuckley Posts: 1,725 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Its unearned income and is taxable.
  • Hello everyone,

    I am from the Naval Families Federation. I have looked into the matter and the tax cannot be reclaimed unless the individual is not liable to pay tax. However, if they have received a retention bonus they are undoubtedly employed and paid by one Service or another and are therefore not non-taxpayers. I hope this clears that query up for everyone.

    Have you heard of the Naval Families Federation before?

    • The Naval Families Federation offers an independent voice to Royal Naval and Royal Marines’ personnel and ALL members of their extended family.

    • The NFF can provide support and guidance on day to day issues that occur as a result of being part of a Naval Service family.

    • The NFF has direct access to the Chain of Command, the MOD and the Government. The organisation ensures that the challenges faced by Naval Service families are acknowledged, understood and considered in the ‘purple arena’ and when policies are reviewed. I have looked into the matter

    You can learn more about the NFF at our website (nff.org.uk) you can also sign up to receive our FREE HOMEPORT MAGAZINE delivered to your door.

    We are always keen to learn about issues concerning Naval Service families so please do get in touch. You can email us at (admin@nff.org.uk) We also have a Facebook page (search for Naval Families Federation) and a Twitter page (twitter.com/The_NFF). In addition we run the NFF Message Boards from our website; which provide a space for Naval Service families to talk to others in a similar situation.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.2K Banking & Borrowing
  • 253.2K Reduce Debt & Boost Income
  • 453.7K Spending & Discounts
  • 244.2K Work, Benefits & Business
  • 599.2K Mortgages, Homes & Bills
  • 177K Life & Family
  • 257.6K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.