selfassessing2024 smith
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RE: Signing on bonus paid after end of tax year
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Signing on bonus paid after end of tax year
I started a new job on 5th April 2023 (i.e. within the tax year 2022-23) for which I received a signing on bonus - this was paid out later in April along with first month of salary (i.e. within the tax year 2023-24). My employer reported the income in the 2023-24 tax year in line with the payment date. However due to changing tax thresholds and different total income year on year, it costs me more to have it in the later tax year than to assign it to the date it was due (i.e. when I started in the company) rather than when it was paid. Has anyone seen a similar case and if so do I have any justification for amending my returns to assign this income to the earlier tax year? Many thanks