How much tax on a bonus / comission?

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08 April 2006, 11:24 AM

ADP

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How much tax on a bonus / comission?

Hi all

Can anyone tell me how much tax Ill pay on a bonus - Im likely to get £1K bonus this month and wonder how much of it I will actually see?? I dont pay 40% tax btw on my basic

cheers

Andy

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08 April 2006, 11:51 AM

simo

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if standard rate payer it will prob be worth £650 ish in your pocket

hth
Simon

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08 April 2006, 11:56 AM

davyboy

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It'll be std rate, unless this money, or part of it pushes you over the 40% amount.

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08 April 2006, 12:05 PM

carl

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22% tax and 11% NI

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08 April 2006, 12:53 PM

ewanrw

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yeah, provided it doesn't push you into the 40% band (£38k+ or is it £32k+)
you'll be taxed at 22% + N.I.

ewan

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08 April 2006, 12:56 PM

J4CKO

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http://www.hmrc.gov.uk/rates/it.htm

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