Bonus Calculation - How much will I get?

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Hi,


I'm due a £2,000 bonus this month and wondered how much of it I would actually see after tax.


My annual salary is £23,000 which is paid in monthly amounts of £1,916.67.
I also pay 1% into a pension and my tax code is 1060L.


How much of that £2K am I likely to see?


Thanks!

Comments

  • Darksparkle
    Darksparkle Posts: 5,465 Forumite
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    Would depend on your exact YTD, if your pension will be calculated on your normal pay or bonus included, student loans etc.

    Roughly you'd get about £1400 extra but that's just based on the info you've given.
  • NYM
    NYM Posts: 4,066 Forumite
    First Anniversary Photogenic Combo Breaker First Post
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    About £1419 of it (If I've calculated it correctly!:o )


    edit:

    Darn it ! DS got there first !
  • [Deleted User]
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    I think £1340 is more accurate. Tax/NI & Pension come to 33% so you will only pick up 67% of £2000.
  • Darksparkle
    Darksparkle Posts: 5,465 Forumite
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    dalo wrote: »
    I think £1340 is more accurate. Tax/NI & Pension come to 33% so you will only pick up 67% of £2000.

    But you are not taking into account the upper earnings limit for NI. 2% over £3531

    And we don't know on what basis the pension is calculated.
  • [Deleted User]
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    Also is the bonus pensionable pay or not?
This discussion has been closed.
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