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Tax on Bonus
cblizard
Posts: 98 Forumite
in Cutting tax
Hi everyone,
I am due a bonus of about £6k from work in the next few weeks, and wonder if there is anything I can LEGALLY do to avoid paying full tax on this amount.
The bonus will not take me into the 40% tax bracket.
I know it's unlikely as tax avoidance is for the rich, but worth asking!
I am due a bonus of about £6k from work in the next few weeks, and wonder if there is anything I can LEGALLY do to avoid paying full tax on this amount.
The bonus will not take me into the 40% tax bracket.
I know it's unlikely as tax avoidance is for the rich, but worth asking!
0
Comments
-
Youre right, it is unlikely lol.
Pay it into your pension pot, i think thats the only way to avoid the tax at 20%.make the most of it, we are only here for the weekend.
and we will never, ever return.0 -
The other way to avoid paying extra tax would be to do 'a Hester' and refuse the bonus
. The fridge is empty, the walls are damp, there's no hot water
And I look like a tramp and tramps like us
Baby we were born to walk0 -
Getting it paid on 6 April at least defers the problem, gives you more time to set up pension arrangements if that's the route you go down.Hideous Muddles from Right Charlies0
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