£5,000 Bonus? Here’s What You Actually Keep After Tax

Getting a £5,000 work bonus sounds great - but how much of it will actually reach your bank account? In this video, I use the KnowTheCost.co.uk Bonus Tax Calculator to demonstrate how Income Tax and employee National Insurance can affect a UK work bonus. We look at how the same £5,000 bonus can produce different take-home amounts depending on your existing salary and explain why bonuses aren't actually subject to a separate "bonus tax". 🔢 Calculate your own bonus take-home: https://knowthecost.co.uk/bonus-tax-c... 📊 More free UK calculators: https://knowthecost.co.uk In this video: • How UK bonuses are taxed • Why your existing salary matters • £45,000 salary + £5,000 bonus example • What happens at higher salaries • Income Tax and National Insurance on bonuses • Why the £100,000 Personal Allowance taper can become important ABOUT KNOWTHECOST KnowTheCost provides free UK calculators and guides designed to make the numbers behind tax, salaries, property, cars, pensions and everyday finances easier to understand. DISCLAIMER This video and the KnowTheCost calculators are provided for general information and illustrative purposes only. They do not constitute financial, tax, legal or investment advice. Calculations are estimates based on the assumptions and tax rates stated and may not exactly match an individual payslip or HMRC calculation. Your actual position can vary depending on factors including your tax code, pension contributions, benefits, student loan, Scottish Income Tax, other income, payroll timing and personal circumstances. Tax rules and thresholds can change. Check the current rules and seek appropriate professional advice where necessary before making financial or tax decisions. #BonusTax #UKTax #Bonus #Salary #PersonalFinance