Bonus tax avoidance

Charlotte09

Hi guys

Is there anyway of getting your bonus in full & not taxed? I've tried to speak to my accountant but to be honest I think he's rubbish and he knew nothing. He knew nothing about personal marriage allowance and I nearly missed out on that!

Thanks

Linton

Get it paid as a pension contribution? A bonus is just extra wages and is taxed in the same way.

00ec25

Charlotte09 wrote: »

Hi guys

Is there anyway of getting your bonus in full & not taxed?

no there is not

you cannot receive money and not expect to pay tax on it given it appears you are already an employee earning above the tax threshold

if you are happy not to receive it you can:
a) donate to charity and pay no tax on it (or, if a higher rate tax payer, reclaim 20% tax on the amount you donated)
or
b) pay some or all of it into a pension scheme and thus get tax relief on the contribution

caronoel

Get some of it paid as a dividend?

Pennywise

caronoel wrote: »

Get some of it paid as a dividend?

Only if you are a shareholder with "proper" shares, i.e. rights to vote, dividend and capital.

lincroft1710

Only if it is given to you in used notes in a brown envelope (new notes and different coloured envelopes are available). But you may find that this form of payment attracts the term "Tax Evasion".

le_loup

Seems that your accountant knows more than you thought.