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To defer or not to defer

bigslick · 2015-06-26 14:04:15

Im currently working in the UK entity of an Irish business on a long-term role. As part of my role I am to receive a lump sum payment from the UK entity as bonus at end of December 2015. The inter country taxes aligned to my work between the countries is being separately managed by the business, however I have been…

26-06-2015 2:04pm

#1

bigslick

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Join Date: April 2005

Posts: 916

Im currently working in the UK entity of an Irish business on a long-term role. As part of my role I am to receive a lump sum payment from the UK entity as bonus at end of December 2015. The inter country taxes aligned to my work between the countries is being separately managed by the business, however I have been instructed that only the UK tax implications of the lump sum bonus will be covered, and so I will be liable for Irish taxes on my payment. Which is fine.

My question is, should i instruct them to have this paid in January 2016 rather than end of tax year 2015, so as to count for 2016 tax year rather than my 2015 tax year which already has a bonus i received in March? The payment should increase my annual income into the higher band.

Any advice would be much appreaciated.

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