Bonus at work...

Liquid_Entity · 19 Mar 2012 at 15:29

How much will I expect in net cash from £423.75

or does it all factor in to my normal salary

lee1101 · 19 Mar 2012 at 15:30

All depends on whether you are a higher rate tax payer or not. If your not then you will receive 68% of the amount about £288.

lee1101 · 19 Mar 2012 at 15:32

If you are its more like 58%

Jono · 19 Mar 2012 at 15:48

Makes you cry, doesn't it?

anything I don't mind · 19 Mar 2012 at 15:58

I got a 4% bonus this year and tax man took about 40%

MickeyFinns · 19 Mar 2012 at 16:06

Also take off 9% for student loan if you have one. I'd lose 40% in total.

Liquid_Entity · 19 Mar 2012 at 16:06

I wasn't expecting any of it seeing as we didn't get a payrise, made redundancies in the office and didn't meet any targets. I'll be on normal 25% tax rates only on 23k

Cheers

anything I don't mind · 19 Mar 2012 at 16:13

Actually they take 23% tax per month including NI and then with the bonus that pushes up the tax to 25% of my total salary goes to income tax and national uninsurance.

http://www.thesalarycalculator.co.uk/salary.php

Mr-White · 19 Mar 2012 at 16:14

Liquid_Entity said:
I wasn't expecting any of it seeing as we didn't get a payrise, made redundancies in the office and didn't meet any targets. I'll be on normal 25% tax rates only on 23k

Same here as we made a loss so I found another job which I start next month. I just found out i'm still receiving a £1500 bonus...I feel like a banker - that's not a typo

MW

Liquid_Entity · 19 Mar 2012 at 16:15

Mr-White said:
Same here as we made a loss so I found another job which I start next month. I just found out i'm still receiving a £1500 bonus...I feel like a banker - that's not a typo

MW

I'd have preferred £1500 tbh. I could have finally got myself a new computer £300 won't get me a gfx card :mad:

anything I don't mind · 19 Mar 2012 at 16:19

Bonus realy help these days especially if you are like me where you live practically month by month. Any extra money is money that i can actually use to buy things.

So far this month I have bought, new mattress, suit and new desk and i actually have money left at the end of the month in my bank account, well i am not hitting the limit of my overdraft for once

wow.

4% is nothing though, the company i work at gave their employees a 50% benefit. Now that is a bonus.

Ev0 · 19 Mar 2012 at 17:04

groen said:
4% is nothing though, the company i work at gave their employees a 50% benefit. Now that is a bonus.

The wonderful world of finance that is. I remember an old friend who was a grad at an investment bank getting a nigh on 100% bonus in their first year or two.