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Good evening gents,
Just curious I have a 6 year old son I currently pay £70 per week(private arrangement)for and I'm on a salary of 32k well 9th of June a new investor took over our company and was pot of money left over and they decided to reward all staff based on job title and time working with company and I received a 30k transaction bonus and they took tax and national insurance straight away £17,800 landed in my account.
My question is that bonus will be part of the end of year P60 for April 2023?the letter said not part of our salary and when I log into the HMRC portal it says "estimated income" will be £32600 6th April 2022 -6th April 2023
But bottom of the screen it says TD £37,000 for the year earned so far.......separate from P60??
hi,
with CMS, they include all taxable income as part of their maintenance calculations, including bonuses. so if the bonus shows up on payslips, or end of year tax paperwork, then very likely CMS will see this via HMRC. their policy is if your income increases/decreases by 25% then you should inform them within 7 days of the change.
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