German Owned Rolls Royce to give staff £2,000 living-cost bonus
 

[More than 14,000 staff at Rolls Royce will be
given a £2,000 one-off payment to help
with the rising cost of living in the UK.
The payment will be for junior management
and shop floor staff, mainly based at its
Derby and Bristol sites, said the engineering firm.

The lump sum will start to be rolled out to
3,000 staff in their August pay.]


Good on BMW doing this.

https://www.bbc.co.uk/news/business-61874786

Very nice

BMW turning woke?

Excellent. Other firms who could well afford to do this should take note and follow suit.

Mine have been paying £25 a month "winter fuel allowance" since November, and decided to keep it going for the duration of the "prices crisis" rather than just winter ... it's not £2000 but it's better than nothing I guess :joker:

Meh suffer now, or suffer in 2 months time, I say let them suffer now.

If it's in their pay I bet it's taxed...

My son's firm gives all their employees a gift of £500 every year at Xmas - and a hamper stuffed full of goodies.
The empoyees move heaven and earth to do a good job for them as a result - lessons to be learned here. :laugh:

No
Looking after their Great Loyal Workers

Taxed?

They should say
Take Home Pay bonus of £2,000

In the 9 years I was at the bookies, we went from 1.5x overtime, double time Sundays (triple time Xmas eve) and annual £500 - £1000 performance bonuses (back in 2010) to precisely ZIP when I left in 2019. Seems like they’re becoming a thing of the past in most companies… going above and beyond isn’t rewarded so of course no one will do it :shrug:.

all bonuses count toward taxable income, there is no such thing as cash in hand as a company employee. When I had a company car and a fuel card, i got absolutely hammered in tax

Some companies will calculate the extra tax and pay that on top of the bonus (so that the take-home bonus is still the amount quoted) but yeah for the mostpart, the bonus gets taxed (and National Insurance taken off). I don't think it has to go to mandatory pension contribution... but not 100% on that either.

Best thing to do with bonuses is to ask for the whole lot to be added to your pension tbh.