I was supposed to get a pay rise in my last pay cheque (end of April), but due to some kerfuffle, it never made it. I've got it sorted now, and they're going to add it to the next cheque, along with the missing money from the April cheque.
So, where I was getting X (for March), my pay for April should have been X+Y. So in May, I'll be getting X+Y+Y, then back to X+Y for June onwards. Where Y is the pay rise. If that makes sense.
My question is with the increase in pay for May (X+Y+Y), am I going to be punished by paying slightly higher taxes for that month, or because the gross annual figure will be correct, will it all come out in the wash? I'm already in the higher tax bracket so won't be moving up or anything if that makes any diff.
So, where I was getting X (for March), my pay for April should have been X+Y. So in May, I'll be getting X+Y+Y, then back to X+Y for June onwards. Where Y is the pay rise. If that makes sense.
My question is with the increase in pay for May (X+Y+Y), am I going to be punished by paying slightly higher taxes for that month, or because the gross annual figure will be correct, will it all come out in the wash? I'm already in the higher tax bracket so won't be moving up or anything if that makes any diff.