How much tax should I pay on my bonus?
 

Recently got a pay rise and a £700 bonus. I currently earn £22347 per year. How much of the £700 should I actually see. Working out my pay slip, I have paid 31% tax on it!

Income tax + NI. 31% sounds about right to me, but I'm no expert.

You pay tax and national insurance, so that sounds about right.

Steve

Assuming you are PAYE then its treated like pay so you pay tax and NI on it.

Is there an echo in here LMAO

Doh! Forgot about NI.

Cheers guys! :thumb:

Peasant :D

31% doesn't sound too far off as you'll be paying NI on it too. Does a % of your wages go into a pension scheme as that may have been taken off the £700 also.

I know there would be one! :D

I pay into a private pention, i.e. under the bed! Safest place at the moment. :thumb:

Doesn't sound much. So that's what you get on the minimum wage these days is it? ;)

:nono:






:norty:

Stick some numbers into here and you'll get a reasonable answer ... The Salary Calculator

Dave