Annual bonus-how much tax deducted?

jgirl2011

Hi all
Hopeing someone can help!
I earn £24k a year and am due to receive a bonus- max 10% of salary, but probably nearer £1.5k in May.
So for May, my salary with bonus, pre-tax will be around £4k monthly earnings.
Obviously if this is what I earnt for the year each month (I wish!) it would mean I was over the 40% tax band. But I dont...this is a one off payment. Id like to know is this what they 'assume' as they see one payment for £4k, with my bonus and will take off the 40% tax on this one payment, even though, my bonus on top of my basic salary for the year is not near the actual threashhold for the 40% rate?

Thanks.

ceeforcat

Your salary for April will be £2000 and in May will be £4000 - this averages out at £36000 per annum which is below the HR limit. There will be no higher rate tax paid. Moreover this amount is above the maximum for NIC purposes and so you will save some money.