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Christmas bonus - is it taxable?

cozzasmith
cozzasmith Posts: 31 Forumite
Part of the Furniture 10 Posts Name Dropper Combo Breaker
in Employment, jobseeking & training
Hi all. I am currently self-employed and so fill out a tax return each year. I have just received a £50 Christmas bonus from one of my clients which they have paid directly into my bank account.

I'm note sure whether I have to declare this bonus on my tax return or not?

Any help would be greatly appreciated.

Many thanks in advance.

Comments

  • Takeaway_Addict
    Takeaway_Addict Posts: 6,538 Forumite
    Part of the Furniture 1,000 Posts
    Pretty sure it is, anything over £10 is I believe.
    Don't trust a forum for advice. Get proper paid advice. Any advice given should always be checked
  • Oakdene
    Oakdene Posts: 2,560 Forumite
    1,000 Posts Combo Breaker
    Sadly, from your point of view, it is.
    Dwy galon, un dyhead,
    Dwy dafod ond un iaith,
    Dwy raff yn cydio’n ddolen,
    Dau enaid ond un taith.
  • cozzasmith
    cozzasmith Posts: 31 Forumite
    Part of the Furniture 10 Posts Name Dropper Combo Breaker
    Thank you both - I was assuming it would be.
  • bubblegumcola
    bubblegumcola Posts: 1,100 Forumite
    You will be taxed. If you work for a company which is owned by its employees then as of 2015, if you receive any type of bonus you will receive it tax free up to a certain amount. This was announced recently. Doesn't help you now unfortunately or if you don't work for such a type of company.
This discussion has been closed.
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