Super critical
Registered User
- Messages
- 41
The bonus will just be one lump sum and not allocated to any particular aspect of relocation so not sure how to get it to fall under non-taxable, I don’t really have much in the line of relocation expenses at the moment anyway so it’s more of a joining bonus really I suppose.
As far as tax credits were concerned I was planning on just handing over my p45 from the last job and they company doing the rest which I assume means they won’t have any visibility in the JB payments. Think I will still do this and see what happens to be honest.
I really didn’t believe the JB was actually taxable, though I’d have all my tax credits to use or reclaim tax paid. Ridiculous.
This will just put it on the long finger at best. Revenue will issue a P21 form for 2018 which will include your pay plus all JB payments. They will then work out the tax based on all money received and will adjust your 1019 credits accordingly. If you don't want them to put it off or lower your credit you should request a p21 balancing statement from them and tell them you will send a cheque if you have paid too little. Of course there is a chance that you could be owed tax as well.As far as tax credits were concerned I was planning on just handing over my p45 from the last job and they company doing the rest which I assume means they won’t have any visibility in the JB payments. Think I will still do this and see what happens to be honest.
if they make a mistake on your payroll and you under pay tax you will most likely end up paying it somewhere along the line.
This will just put it on the long finger at best. Revenue will issue a P21 form for 2018 which will include your pay plus all JB payments. They will then work out the tax based on all money received and will adjust your 1019 credits accordingly. If you don't want them to put it off or lower your credit you should request a p21 balancing statement from them and tell them you will send a cheque if you have paid too little. Of course there is a chance that you could be owed tax as well.
A sign on bonus is taxed as normal income also.
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