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Posted Wed, 05 Jun 2024 09:36:06 GMT by Suzysloane17! sloane
My current salary is 49k per year, I'm getting a bonus of £2500 to be paid in June. Would it be more beneficial to pay 1k into my pension pot and take the £1500 as a payment to me?
Posted Thu, 06 Jun 2024 16:30:00 GMT by HMRC Admin 25 Response
Hi Suzysloane17! sloane,
HMRC cannot advise you on this as it is financial advise which we are not authorised to give.
Thank you. 

 
Posted Thu, 06 Jun 2024 17:45:51 GMT by Suzysloane17! sloane
Ok I understand. Can I ask would I only pay 40% tax in the month that the Bonus is given, what i'm worried about is that my tax code changes and I end up paying too much tax in the forth coming months too?
Posted Mon, 10 Jun 2024 13:06:32 GMT by HMRC Admin 5 Response
Hi Suzysloane17! sloane

If your bonus takes you into the 40% bracket for that month and then your wage returns to your standard salary then the tax is calculated on your pay to date and any refund due would be calculated automatically.
Your tax code should not change unless with the bonus your annual income would be over £100,000. 

Thank you

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