S
sealine
Guest
Maybe this has been covered before but;
I am a PAYE worker who would have a Profit Share due to me from my employer earned in 2008 but wouldn't normally be paid until after the accounts are signed off on in Feb or early March.
This year our company issued a decree worldwide asking that profit share not be paid until Q2 therefore reducing their payroll cost in Q1.
Now we find ourselves in the current climate where tax changes have taken effect for 2009 and all such payments will incorporate the new 2% levies.
My question is I believe income earned in 2008 and not paid until 2009 should be taxed at the 2008 rates. Am i correct?
If I am correct, how do I go about not having it taken out of my pay before hand rather than having it deducted and having to fill out tax return forms and claiming it back next year.
Am I wrong?
I am a PAYE worker who would have a Profit Share due to me from my employer earned in 2008 but wouldn't normally be paid until after the accounts are signed off on in Feb or early March.
This year our company issued a decree worldwide asking that profit share not be paid until Q2 therefore reducing their payroll cost in Q1.
Now we find ourselves in the current climate where tax changes have taken effect for 2009 and all such payments will incorporate the new 2% levies.
My question is I believe income earned in 2008 and not paid until 2009 should be taxed at the 2008 rates. Am i correct?
If I am correct, how do I go about not having it taken out of my pay before hand rather than having it deducted and having to fill out tax return forms and claiming it back next year.
Am I wrong?