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Do I need to tell HMRC I'm getting a bonus this month?

5 replies

SeasonsBleatings · 17/07/2023 10:18

I'm expecting both a small bonus and cost of living payment this month. It will add around 50% to my usual monthly salary for July but keep me within the 40% higher tax rate even if HRMC assume this is my new monthly salary when the total is multiplied by 12 (I.e. under £125,140 per annum). Struggling to get through to HMRC. Does anyone know if I need to tell them in advance to avoid any emergency tax being applied? Thanks in advance

OP posts:
AmITooOldToDoThis · 17/07/2023 10:19

No, you don’t. Your company’s payroll software will do its thing.

SeasonsBleatings · 17/07/2023 10:20

Thank you. My manager suggested I call HMRC even though I'm sure I never have for previous bonus payments or lump sum backdated salary increases!

OP posts:
Bookish88 · 17/07/2023 10:24

No, you don't need to call them.

Bromptotoo · 17/07/2023 11:02

PAYE is, excepting those on emergency codes, cumulative. Anything in one odd month will sort itself out in the rest of the year.

If you're on tax credits just keep an eye on your annual total for pay etc as it's easy to be overpaid if you earn tons more in year than in the previous year upon which your award is based.

SeasonsBleatings · 17/07/2023 11:52

Thanks all!

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