Holiday pay, will i get taxed more if i take it all in one go, on seperatly?
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Holiday pay, will i get taxed more if i take it all in one go, on seperatly? or well get taxed the same. Im a part time worker, who is a full time student, but i get taxed when i earn over a certain amount. I am going on holiday in a few weeks, so to get my holiday pay, as i am taking it before, is it better to take it all in one go? or will i get taxed alot? Or take it over 3 weeks? Or doesnt it matter how i take it and i will be taxed the same amount?
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Answer:
You will be taxed the same overall, but you might have more deducted if you take it in one lump, though you'd get the extra tax back in the following week or weeks.
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