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Posted Tue, 04 Jun 2024 11:26:47 GMT by Lolly1987
I’m hoping someone can advise please. My salary is £100k and my bonus (paid annually in March) will be around £35k. At the moment my tax code allows me to receive my personal allowance tax free but I believe when I receive my bonus it will take me over the threshold. Do I need to complete a self assessment tax return and pay back the tax or will it be automatically deducted from my bonus? Thank you
Posted Fri, 07 Jun 2024 08:35:59 GMT by HMRC Admin 25 Response
Hi Lolly1987,
If your income is £135K for then you do not need to register for Self Assessment.
Your records will be reviewed at the tax year end.
If you know your income will be over the £100K then you can amend the estimate income on your personal tax account to amend your tax code Personal tax account: sign in or set up
Or contact HMRC  here:
Income Tax: general enquiries
Thank ypu

 

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