Bonus, tax code and PAYE query

Hello, I earn a basic of 120k and get a 15% bonus per year (paid in March) I know 120k is in this tax bracket and losing my personal allowance, so 135k would put my on 45% and not the 60% (losing personal allowance) I am looking to update my estimated income for 23/24 to include my bonus in March 2024. Now, this would see my estimated income at about 135k per year and take my out of the personal tax reduction bracket. The question is will I pay more tax on this new estimated salary for the new financial year and "if" I don't get the bonus I would've paid too much tax - would I get a rebate at self-assessment time?

Hi,
That is correct, if you earn less than the estimated amount, you will be due a tax refund when you complete the Self Assessment tax return.
Thank you