Post
by malikjitin » Fri Jul 22, 2011 8:00 am
In first part you wrtoe 3000 + 1500 = 3500, which I dont understand.
Taking for granted it says 4500.
If £1500 was a loan by the company to yourself for some sort of holidays then I would imagine it wouldnt have been taxed as it is payable back to the empoyer. Therefore it wont be included in the taxable salary however you employer need to confirm it in their letter to you to avoid any confusions.
In second part it is very unusual situation that you are selling your holidays. Although there shouldnt be any issues with regards to the bonus as it is taxable anyway however statutory cannot be sold.
Every full time employee is entitles to 28 days statutory holidays in a year which although includes Bank Holidays etc but cannot be replaced with extra working hours. You have to be away from work, it is employers obligation.
So in second part I cannot be sure if you would have been taxed on £50.00.
However in your scenario an explanation letter should help in great deal by the employer.