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7.5 yr Bonus

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The Logitician

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Hi,

I'm due to get my 7.5yr bonus this month. reading the JSP and speaking with PSF/JPA and other personel, the bonus is £2500 before tax. Now JPA say i will pay just under 23% tax, which at 23% tax i should walk away with about £1925, great. However speaking with other persons who had there's a couple of years ago, they only took about £800, the norm seems to be £1500.

Can anyone clear this up for me, anyone recently had theres. It's also no longer paid through you pay, you have to claim for it.
 
had it a while ago, got paid in seperately to my monthly wedge. Think I got somewhere in the region of 1800, so your ball park figure looks about right! Just speaking from experience, but maybe a shiney bum could clarify this for you?

You do have to apply for it as well, presumed you were asking a question?!
 
Back in the good old days

Back in the good old days

You'll pay about 20% tax, if that's your current tax rate and 9% or 10% NI contributions. If you get it paid mid month they'll take the tax off it straight away and take the extra NI at the end.

Spend it wisely, buy a bank or two.
 
My 7.5 year point this very day, Hooray! Put the paperwork in 2 months ago for my free coin. I'm going to buy Alsation with it. Wonder what wor lass would say when she comes into that.
 
I'm lower pay band, and the month I got my 7.5 yr bonus, I took home £3k including my regular wages.

You have to fill in paperwork for it these days, unlike when we got the 4.5 yr one.

You'll find it will be on your JPA as it's own payslip, and it'll be for around the same as your regular wages. I thought they'd paid me 2 weeks early, then remembered it was my bonus.
 
ChrisBrit81 said:
I'm lower pay band, and the month I got my 7.5 yr bonus, I took home £3k including my regular wages.

You have to fill in paperwork for it these days, unlike when we got the 4.5 yr one.

You'll find it will be on your JPA as it's own payslip, and it'll be for around the same as your regular wages. I thought they'd paid me 2 weeks early, then remembered it was my bonus.
Click to expand...

I'm also lower pay band, from what i am aware, i think it defiently is around the £1750-£1900 bracket.

Extra money to pay the bills!
 
We get this one every year but be advised that if you receive your Brucie in April (ie the start of the tax year) you will pay considerably more tax on it initially than you will if you receive it in March's pay (EOY).

This will be evened out over the course of the year but don't be surprised if you are taxed quite heavily on your bonus if it is received early in the tax year.
 
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