One-off honorarium payment

[Danesgate]

Hi

A friend (not a banker.... ) looks like being awarded a 1-off honorarium payment of £1k.

He is a higher rate tax payer already, can any one advise how much this will actually be worth in his paypacket?

I suggested £600 minus NI, but we don't know how much that would be?

Cheers!

[Eric Mc]

Depends on how high his salary already is as to what type of Employee's NI will ben deducted. It could be deducted at 12%, the normal Class 1 employee rate or it could be deducted at 2% on earnings over £43,000 per annum.

[Danesgate]

Cheers.

Congratulations on post 55000 btw