2006-12-06 02:05:48 · 8 answers · asked by Philippa S 1 in Business & Finance ➔ Personal Finance
It makes no difference when you get paid or how. In UK you are taxed 22% on your annual earnings, but the money is taken from you monthly. That is why it is called PAYE (pay as you earn). Enjoy your bonus and do not worry.
2006-12-06 12:40:55 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Well, first of all... based on the way you spelled "cheque" I'm guessing you are in Britain. I don't know the British tax laws or structure but I'll bet most of the answers above have to do with the United States IRS.
In the US, you would be taxed more. The bonus on your paycheck would make it look like you made more money throughout the year.
However, when you file your tax return, the actual amount that you made during the year would be used and it your return would include the amount that you overpaid on your December pay checks.
If you're asking about British law, I'm sorry, I can't help.
2006-12-06 02:37:50 · answer #2 · answered by trigam41 4 · 1⤊ 1⤋
As normal in that bonus pay is taxed like regular earnings.
2006-12-06 02:07:54 · answer #3 · answered by non_apologetic_american 4 · 2⤊ 0⤋
relies upon on the dept. If I prevail with the place i pass, my bonus could be paid 2-3 months once I end tech college. If I bypass consumer-friendly yet fail my assured activity's tech college, i'm getting no bonus in spite of each thing. learn the Air national shield for the time of the link.
2016-12-13 03:50:49 · answer #4 · answered by ? 3 · 0⤊ 0⤋
You are taxed on your total income for the year. How it arrives is irrelevant. And taxes will be withheld from your lump sum at the same rate they always are.
2006-12-06 02:09:30 · answer #5 · answered by keepsondancing 5 · 2⤊ 1⤋
You get taxed as normal on the whole lot! Depressing isn't it!
2006-12-06 02:10:57 · answer #6 · answered by ehc11 5 · 1⤊ 0⤋
just remember: at least you are getting a bonus.
2006-12-06 02:13:24 · answer #7 · answered by bb 2 · 1⤊ 0⤋
That sucks that they are doing it like that, because now you will get taxed a lot more!
2006-12-06 02:08:00 · answer #8 · answered by Molly323 5 · 0⤊ 3⤋