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Which Tax Year?
Mouschka
Posts: 116 Forumite
in Cutting tax
My OH has recently changed jobs and will be earning less in his new job and will no longer have a company car so will (eventually!) pay less tax this year than in previous years.
His previous employer have delayed bonus payments to all employees due to cash flow problems. They are going to be paying a performance bonus for 2010/11 in October 2011.
This payment definitely relates to work done in 2010/11 and will be taxed at the higher rate but which year's overall earnings will the Inland Revenue count it as being part of?
Would really appreciate an answer and advice as to whether we need to tell anyone about it/do anything - thanks
His previous employer have delayed bonus payments to all employees due to cash flow problems. They are going to be paying a performance bonus for 2010/11 in October 2011.
This payment definitely relates to work done in 2010/11 and will be taxed at the higher rate but which year's overall earnings will the Inland Revenue count it as being part of?
Would really appreciate an answer and advice as to whether we need to tell anyone about it/do anything - thanks
0
Comments
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PAYE is deducted when it is paid so in October 2011, i.e. 2011/12 earnings.
Oh and The Inland Revenue ceased to exist over 5 years ago now, HMRC is the 'new' name, LOLI didn't do it, nobody saw me do it, you can't prove a thing!
Quidco and Topcashback, £4,569
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