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Hi, I have just been made redundant and received £42,088.54
Hi, I have just been made redundant and received £42,088.54 (Gross) in redundancy money. My salary was £38,851 and at month 8 (the point of redundancy) received £25,917.14 in gross salary plus the red… read more
Tony Tax
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Hi i am leaving my employer on the 30th of April 2013 under
Hi i am leaving my employer on the 30th of April 2013 under a compramise agreement . to compensate me for loss of office i am recieving a one off payment of £60k. I understand £30k will not incure any… read more
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made redundant from company in April 2007 where got payout
made redundant from company in April 2007 where got payout and £3ok tax exempt, then re-employed by same company in different role in Auguts 2009, to be made redundant in Oct 2012 question is the £30k… read more
TaxVince
TaxVince
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Master's Degree
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If I recieve a reduncy payment of £110000 is the tax calculated
If I recieve a reduncy payment of £110000 is the tax calculated as follows: 0-£30000 (tax free) £30001 - £67401 (20%) £67402 - £110000 (40%)… read more
Tony Tax
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Hi Quick question...I have just been made redundant and becuase
Hi Quick question...I have just been made redundant and becuase my company is paying statutory redundancy it does not break the £30k tax free amount. But if i used my notice period it would break the … read more
Tony Tax
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I have been offered voluntary redundancy with a lump sum of
I have been offered voluntary redundancy with a lump sum of 75K But I have to leave 31st March. What would be the tax implications and should I stall untill 6th April.Thanks.… read more
Sam
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Q1. I am due to receive 125000 gross redundancy pay in July.
Q1. I am due to receive 125000 gross redundancy pay in July. I know that 30000 is tax free, and the company are due to take 20% off the remainder for tax before I receive a net of 106000. Then I will … read more
Anne T
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If Im made redundant at the end of February and receive my
If I'm made redundant at the end of February and receive my P45, but don't receive my Redunancy payout of £42,000 until 30th April will this affect the tax free element (£30,000) of my redundancy. I a… read more
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Sam
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My employer is expected to launch a voluntary redundancy scheme
My employer is expected to launch a voluntary redundancy scheme early in 2011, and I am considering applying. I would receive a lump sum compensation payment of approximately £50000. I understand that… read more
Tony Tax
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I have just been made redundant after 3 years with my employer.
I have just been made redundant after 3 years with my employer. In addition to Statutory Redundancy I am being offered 6 months salary, approximately £50k, by way of Compensation for Loss of Office. I… read more
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Ive recently been made redundant. My last day was 31st Marc
I've recently been made redundant. My last day was 31st Marc 2010 and my redundancy payment will be made towards the end of April. During FY09/10 I was a higher rate tax payer. My redundnacy pay inclu… read more
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I was made redundant in the summer and my redundancy payment
I was made redundant in the summer and my redundancy payment has taken me into the 50% tax bracket. One consequence of this is that I have been told that I can only get 40% tax relief on up to £20,000… read more
Tony Tax
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Hi ,I am emigrating to the republic of Ireland in June. I will
Hi ,I am emigrating to the republic of Ireland in June. I will also be made redundant in June with a severance of £70k, of which the first £30k is tax free. I pay 40% on my current earnings, is there … read more
Sam
Sam
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Higher Officer HMRC
6,712 satisfied customers
I have worked for a my company for 34 years I am 50 years of
I have worked for a my company for 34 years I am 50 years of age and I have been offered the following redundancy package; Pension from 1st April 2010 approx 52,000 GBP with 1200 commutable reducing m… read more
Tony Tax
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I am getting made redundant in March my annual salary is 36071
I am getting made redundant in March my annual salary is £36071 my redundancy will be £7283.57 which is not taxed I will be getting payment in leui of notice of £17188 inc holiday pay which I am told … read more
Tony Tax
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I am thinking of taking redundancy from work, would I be better
I am thinking of taking redundancy from work, would I be better deffering the payment until April (new tax year) would it make any difference to takin it now, I am a high rate tax payer. I am aged 46… read more
Julie Kingham
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I am almost 62 years old and my employment is to be terminated
I am almost 62 years old and my employment is to be terminated at the end of December 2009. I have been offered a lump sum of £50k as an ex-gratia payment namely for leaving the job early at the reque… read more
Tony Tax
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I,m in the process of being made redundant. I have the option
I,m in the process of being made redundant. I have the option to have my employmet terminated at the end of March or continue on my gardening leave until the end of April i.e. into the new tax year. I… read more
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