Annual bonus, paid 4 weekly

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Jones88

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Joined: Sun Jan 10, 2021 10:46 am

Post by Jones88 » Thu May 20, 2021 9:16 pm
Hi.
I understand the overtime and bonus clause in my IVA is 10% then 50/50 split.

I am paid 4 weekly but in i am due to receive my annual bonus in my next pay.

Normal 4 weekly pay is £2085 after tax,
I am due to receive £2600 in my next pay.

What calculations would be used to work out how much is due? It gets confusing with my monthly I&E being shown on a monthly figure rather than a 4 weekly.

Foggy

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Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Fri May 21, 2021 6:58 am
Some IPs will work on annual figures for an annual bonus, some will divide it between normal salary payments whilst others will deal with it as a whole in one month --- confusing I know ! You will need to speak to your IP and ask them how they intend to treat it.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk
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