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Tax on Retention Bonus
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changup
Posts: 14 Forumite
in Cutting tax
Helo, Greetings.
My employer offered me a one time retention bonus (RB) with a min term clause of 1year. I accepted it and the amount was paid out after tax deduction (TD). However, I have decided to leave & I now have to return back the money in full i.e. RB.
My question is - Is there a way to claim back the tax (TD) I paid? else I will be loosing out on TD?
Thanks in advance for your help.
Regards.
My employer offered me a one time retention bonus (RB) with a min term clause of 1year. I accepted it and the amount was paid out after tax deduction (TD). However, I have decided to leave & I now have to return back the money in full i.e. RB.
My question is - Is there a way to claim back the tax (TD) I paid? else I will be loosing out on TD?
Thanks in advance for your help.
Regards.
0
Comments
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Get them to deduct it from your gross pay is the easiest way.0
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Thanks molerat, that makes sense, hopefully they will oblige. Regards0
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