50 or 100% of overtime/bonus?

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john360

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Post by john360 » Fri Feb 07, 2020 6:12 am
I received Bonus/overtime payment of £900 in November last year. I’m in a trust deed with credit fix with just over a year to go of the 4 years it was setup for. They have just completed my annual review and are demanding that I need to pay them the £900 extra payment I earned. Is this correct? I’ve seen online that they can only ask for 50%. Help

luluj

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Post by luluj » Fri Feb 07, 2020 6:18 am
It depends what is written in your paperwork.

Most bonuses are health with the 10%: 50:50 split so first 10% you keep, then balance split 50:50 between you and your trust deed.

So you would keep, £90, then split the £800 between you, £400 each

But as I say you need to check your paperwork
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Foggy

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Post by Foggy » Fri Feb 07, 2020 7:52 am
The 10% in the 10% 50/50 rule is the amount equivalent to 10% of the regular income, as agreed at last review ... that you keep and then split the rest 50/50. Some clauses do not have the 10% disregard and are merely 50/50 splits of the bonus. Calculated on take home pay, after deductions. A bonus payment is earned income, not a windfall, which seems to be how they want to treat it.
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