kennett Posted December 22, 2015 Report Share Posted December 22, 2015 Never having worked for a company that pays a Xmas bonus until this year, just wondering if it was normal to pay tax on it? Just seems a bit harsh!!! Quote Link to comment Share on other sites More sharing options...
Scully Posted December 22, 2015 Report Share Posted December 22, 2015 Yep. Quote Link to comment Share on other sites More sharing options...
955i Posted December 22, 2015 Report Share Posted December 22, 2015 Tell them you want cash Quote Link to comment Share on other sites More sharing options...
escortmagnum999 Posted December 22, 2015 Report Share Posted December 22, 2015 We got £50 cash and a meal, which I thought was pretty good, it's hardly worth it if u pay tax cut n it though!! Quote Link to comment Share on other sites More sharing options...
welshwarrior Posted December 22, 2015 Report Share Posted December 22, 2015 Got 2 large packs of smoked salmon Quote Link to comment Share on other sites More sharing options...
bullet1747 Posted December 22, 2015 Report Share Posted December 22, 2015 It's classed as income all taxable , few years back I got 7 1/2 grand bonus taxed on it was gutted Quote Link to comment Share on other sites More sharing options...
MartynGT4 Posted December 22, 2015 Report Share Posted December 22, 2015 I'd have been happy with £50. We got an invite to a black tie Xmas evening bash (although tickets were £25 a head!), a Xmas card they printed themselves and a bloody chocolate reindeer! Quote Link to comment Share on other sites More sharing options...
SEshooter Posted December 22, 2015 Report Share Posted December 22, 2015 We get **** all. All our office staff get £300 and engineers get nothing Quote Link to comment Share on other sites More sharing options...
old'un Posted December 22, 2015 Report Share Posted December 22, 2015 It's classed as income all taxable , few years back I got 7 1/2 grand bonus taxed on it was gutted 71/2k Xmas bonus, what are you a banker? Quote Link to comment Share on other sites More sharing options...
grrclark Posted December 22, 2015 Report Share Posted December 22, 2015 It is when you get a bonus that you appreciate just how much of your hard earned is taken by the taxman, especially so if a higher rate tax payer. Quote Link to comment Share on other sites More sharing options...
955i Posted December 22, 2015 Report Share Posted December 22, 2015 It's classed as income all taxable , few years back I got 7 1/2 grand bonus taxed on it was gutted Must have been awful for you Quote Link to comment Share on other sites More sharing options...
Bluebarrels Posted December 22, 2015 Report Share Posted December 22, 2015 Being healthy is all the bonus I need BB Quote Link to comment Share on other sites More sharing options...
955i Posted December 22, 2015 Report Share Posted December 22, 2015 It is when you get a bonus that you appreciate just how much of your hard earned is taken by the taxman, especially so if a higher rate tax payer. Why? If you are earning that much then you pay your share, same as everyone else. I don't get a 'bonus' for just doing my job, doing it right is expected of me by my clients. Quote Link to comment Share on other sites More sharing options...
grrclark Posted December 22, 2015 Report Share Posted December 22, 2015 Why? If you are earning that much then you pay your share, same as everyone else. I don't get a 'bonus' for just doing my job, doing it right is expected of me by my clients. Why do you appreciate how much the taxman takes? Simply because you see it go as a single lump sum and if a higher rate taxpayer then you see half of the bonus sum disappear. I believe in progressive taxation and don't recall saying otherwise Quote Link to comment Share on other sites More sharing options...
Del T Posted December 22, 2015 Report Share Posted December 22, 2015 Christmas bonus, what's one of them?. Quote Link to comment Share on other sites More sharing options...
bazzashadow Posted December 22, 2015 Report Share Posted December 22, 2015 don`t get one from kier and they tax you because you could earn £10000 all year and have a Christmas bonus of £50000 so if they didn`t tax you it would be unfair on someone earning £60000 Quote Link to comment Share on other sites More sharing options...
keg Posted December 22, 2015 Report Share Posted December 22, 2015 Never having worked for a company that pays a Xmas bonus until this year, just wondering if it was normal to pay tax on it? Just seems a bit harsh!!! Why is it harsh? Quote Link to comment Share on other sites More sharing options...
bullet1747 Posted December 22, 2015 Report Share Posted December 22, 2015 71/2k Xmas bonus, what are you a banker? Reframe not Xmas end year bonus end off January , if we hit a percentage off a certain target set year in advance we get a percentage bonus off are wages Quote Link to comment Share on other sites More sharing options...
955i Posted December 22, 2015 Report Share Posted December 22, 2015 Why do you appreciate how much the taxman takes? Simply because you see it go as a single lump sum and if a higher rate taxpayer then you see half of the bonus sum disappear. I believe in progressive taxation and don't recall saying otherwise Because in my case, I am taxed at a higher bracket regardless of my situation, there is no 'bonus' to being self employed and I am a single income household. The fact that people in jobs where you get paid extra for.....doing your job start moaning about it being taxable is ridiculous. Quote Link to comment Share on other sites More sharing options...
keg Posted December 22, 2015 Report Share Posted December 22, 2015 I get a sales related bonus every qtr in arrears ( assuming I and the company hit target) and i pay tax, no problem with that. I then read this thread I then read about people complaining about lack of funding for this and that...... As the yanks say " Do the Math" Quote Link to comment Share on other sites More sharing options...
old'un Posted December 22, 2015 Report Share Posted December 22, 2015 Reframe not Xmas end year bonus end off January , if we hit a percentage off a certain target set year in advance we get a percentage bonus off are wages Double glazing or estate agent then. Quote Link to comment Share on other sites More sharing options...
keg Posted December 22, 2015 Report Share Posted December 22, 2015 Because in my case, I am taxed at a higher bracket regardless of my situation, there is no 'bonus' to being self employed and I am a single income household. The fact that people in jobs where you get paid extra for.....doing your job start moaning about it being taxable is ridiculous. I agree. Being self employed, am i right in saying that you also have to pay some tax up front? 71/2k Xmas bonus, what are you a banker? I some banking roles you can put a few more noughts in there Quote Link to comment Share on other sites More sharing options...
bullet1747 Posted December 22, 2015 Report Share Posted December 22, 2015 Double glazing or estate agent then. Worlds largest power rental company Quote Link to comment Share on other sites More sharing options...
northeastshooter Posted December 22, 2015 Report Share Posted December 22, 2015 yep you pay tax on it unless they give it cash or check then its for you to declare, the place I've just started 3 months ago gave £150 bonus this year and paid the tax. Quote Link to comment Share on other sites More sharing options...
kennett Posted December 22, 2015 Author Report Share Posted December 22, 2015 Because it isn't a big bonus to start with (under £200), and is actually paid into a pot by a grateful group of people who utilise a service we provide, so kind of goes against the spirit in which it was given. But I'm happy any way, will buy a few cartridges Quote Link to comment Share on other sites More sharing options...
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