Lolly1987
Joined: 6/4/2024
-
Personal allowance reduction
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