Question about my bonus in this months pay

Mat_Lock

I received a £232.36 bonus in my salary this month.

It only works out that I have £100 extra from my normal salary.

Surely that is much less than what tax and NI deductions would take off?

MrsManda

What deductions does your payslip say were made?
What rate tax do you pay?

chrisbur

There are a few possible reasons for this, but without the full details no-one can advise you. You need to give your gross tax and NI figures for this month and the previous two months. Also your tax code number and basis and your total gross and tax to date from your last payslip.

Mat_Lock

Month:

Gross pay 1978.25
Deductions 452.85
Net pay 1525.40
Income Tax 287.60
NIC 165.25

Year to Date:

Gross 21680.76
Taxable 21680.76
Income Tax 3039.40
NIC 1808.93
Net Pay YTD 16832.43

Tax Code
0647L 1

Mat_Lock

Mehh reading that just shows me how much of a pittance I am on for a 32yr old

chrisbur

Mat_Lock wrote: »

Month:

Gross pay 1978.25
Deductions 452.85
Net pay 1525.40
Income Tax 287.60
NIC 165.25

Year to Date:

Gross 21680.76
Taxable 21680.76
Income Tax 3039.40
NIC 1808.93
Net Pay YTD 16832.43

Tax Code
0647L 1

I see that you appear to be on a month 1 tax code (I asume basis is the after your code) do you know why this is, has your code changed recently?
Tax and NI on your last month is correct as is tax on your year to date.
I cannot comment on the tax differance between this month and last as you have not given details for the two previouis months.

Mat_Lock

chrisbur wrote: »

I see that you appear to be on a month 1 tax code (I asume basis is the after your code) do you know why this is, has your code changed recently?
Tax and NI on your last month is correct as is tax on your year to date.
I cannot comment on the tax differance between this month and last as you have not given details for the two previouis months.

I have no idea what code 1 means.

here are last 2 months slips too:

February

Gross Pay 1833.32
Deductions 407.90
Net Pay 1425.42
Income Tax 258.60
NIC 149.30

Year To Date

Gross 19702.51
Taxable 19702.51
Income Tax 2751.80
NIC 1643.68

January

Gross Pay 2211.28
Deductions 525.08
Net pay 1686.20
Income Tax 334.20
NIC 190.88

Year To Date

Gross 17869.19
Taxable 17869.19
Income Tax 2493.20
NIC 1494.38


Hope that helps

GavB79

Your gross pay is only £145 more than February, not £232. I would think that explains it.

DCFC79

Mat_Lock wrote: »

Mehh reading that just shows me how much of a pittance I am on for a 32yr old

hey its not so bad, im slightly younger than you and i get £850 month, now that is a pittance,

Mat_Lock

GavB79 wrote: »

Your gross pay is only £145 more than February, not £232. I would think that explains it.

Meaning ?? Sorry am being thick.

My letter telling me I had a bonus in my pay this month, said £232 before tax and NI. My understanding of that would mean roughly 30% of that gone. So should be about £160 extra, not £100

GavB79

Your gross pay for February was £1,833. Your gross pay for March was £1,978, an increase of only £145 and a net increase of £100.

So either you have only had a bonus of £145, or you also had a smaller bonus in February and are not comparing March against your 'normal' pay.