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Salary Sacrifice
redmalc
Posts: 1,436 Forumite
Hi All
i am retiring at the end of May 24 and was given a bonus of 25 K which was to be paid in my salary at the end of May, however it was agreed I am now getting a further bonus of 25K in May 24, can I salary sacrifice the second 25K
regards
i am retiring at the end of May 24 and was given a bonus of 25 K which was to be paid in my salary at the end of May, however it was agreed I am now getting a further bonus of 25K in May 24, can I salary sacrifice the second 25K
regards
0
Comments
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Yes and it would have been wise to always salary sacrifice bonuses over your career, especially if you pay 40% tax on them.
You will need to ask your employer about how you go about doing it!"No likey no need to hit thanks button!":pHowever its always nice to be thanked if you feel mine and other people's posts here offer great advice:D So hit the button if you likey:rotfl:0 -
Definitely, I've literally just done the same thing. Fortunately my employer sends out an email with a link to our benefits site every January to remind us to select the 'Bonus Sacrifice' option, which is handy.0
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Simon 11,I have sacrificed all of my bonus,s but the question I am unsure about is if I take the 25k as salary in May can I also sacrifice the second 25k0
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As long as you don't exceed the £60k annual limit (was £40k in prior tax years) but you can carry back.0
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