Bonus Tax Question

c-dog

Hi all,

Question for anyone who might know really!! Basically i'm after hitting targets and boss is giving me a bonus of 3000euro. Now here's the question, is there a way I can get the bonus with out paying more then half it in tax?? Boss is open to paying me in whatever way is the most benefical to me but obviously will have to go through the company and be completely legit. Anyone get a bonus or know of a way for me to to do this.

Any replies greatly appreiciated, thanks

markpb

If you commute by public transport, buying an annual bus, train or tram ticket will reduce your tax liability.

If you buy a bike through the cycle to work scheme, it will also reduce your tax.

Lastly, I think your employer can give you a one off payment of up to €250 in vouchers tax free

Clauric

It all depends on your boss.

As c-dog said, the best ways are via a commuter ticket or cycle to work scheme, and you boss can give you a once a year bonus of €250.

The other option is to get your boss to pay it into your pension. This will reduce the liability considerably. While you won't have it today or even next week, €300 at 7.5% average return over 30 years is more than €2600!

qwytre

You could make an AVC into your pension (if you have one) and you'll get tax relief on it. Of course, you will be taxed when you draw your pension when you retire.

Doom

Moving expenses!!

c-dog

Doom wrote: »

Moving expenses!!

Tell me more!!!

One way that was suggested to me is flights, im going on honeymoon to Bali and Thailand in august flights nearly come to 3000 would this be something i could do if we said i was going to looking for suppliers or something or would this be way to obvious??
Or milage/expense over a few weeks another option, and in the middle of setting up a pension so this is another thing i've considered.