Paying yourselves a bonus

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Isabel.Blake

Well-Known Member
Joined
Mar 19, 2012
Messages
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Location
Kent
Hi all,

I’m currently in a partnership with someone and we’re looking at giving ourselves a nice Christmas bonus. I just wanted to know any advice on how best to do this.

Is it better to just give ourselves the lump fee at Xmas or is it better to spread it out over a couple of months? Does it make any difference on how much tax we’d pay on it ?

Grateful for any help or advice!

Thanks x
 
Hi

I’m assuming you’re a partnership rather than an LLP?

As such You’re both taxed on your share of the partnership’s Profits which it makes during the tax year. When you pay yourself is therefore not a consideration for tax.

Hope that makes sense.
 
Hi

I’m assuming you’re a partnership rather than an LLP?

As such You’re both taxed on your share of the partnership’s Profits which it makes during the tax year. When you pay yourself is therefore not a consideration for tax.

Hope that makes sense.

Yes that makes sense :) thank you!
 

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