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Related UK Tax Questions
I understand that tax is payable on any redundancy payment
I understand that tax is payable on any redundancy payment in excess of £30,000. However, I understand that no NI is payable on redundancy payments at all... even in excess of the £30k so long as it i… read more
bigduckontax
bigduckontax
Accountant
FCCA FCMA CGMA ACG
1,314 satisfied customers
A key employee has handed in their notice, and given his contractual
A key employee has handed in their notice, and given his contractual three months notice. If I go back to him and suggest the following. Would he work a further three months - to effectively take his … read more
Sam
Sam
Accountant
Higher Officer HMRC
15,712 satisfied customers
Hi Ive recently been made redundant and been asked to sign
Hi I've recently been made redundant and been asked to sign a compromise agreement as procedures were not followed correctly. I was entitled to 6 months notice which will be paid in lieu of notice plu… read more
TaxVince
TaxVince
Senior Accountant
Master's Degree
899 satisfied customers
Hi - I left my employment on a voluntary early retirement deal
Hi - I left my employment on a voluntary early retirement deal i.e. a voluntary redundancy with option taken by me to receive lump sum payment for number of years service plus immediate pension. I lef… read more
Anne T
Anne T
Bachelor's Degree
146 satisfied customers
I was told verbally by my employer on 2nd Feb that as a result
I was told verbally by my employer on 2nd Feb that as a result of a company reorganisation, my position would terminate on 17th Feb. I have been asked to enter into a compromise agreement which confir… read more
Sam
Sam
Accountant
Higher Officer HMRC
15,712 satisfied customers
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
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
My employer is running a voluntary leavers scheme. There seems
My employer is running a voluntary leavers scheme. There seems to be no difference between this and voluntary redundancy, but I wonder if it is different for tax purposes? We are advised that 'it is e… read more
Sam
Sam
Accountant
Higher Officer HMRC
15,712 satisfied customers
I have been issued a Compromise Agreement with a figure to
I have been issued a Compromise Agreement with a figure to cover damages/loss of office/redundancy. It states that The Company waives the right to any period of notice or monies in lieu of notice (bot… read more
Clare
Clare
Solicitor
Bachelor's Degree
149 satisfied customers
I paid solicitors fees in tax year 2010/11 whilst undergoing
I paid solicitors fees in tax year 2010/11 whilst undergoing redundancy negotiations with my former employer. The fees were required to validate a 'compromise agreement'. Are these tax deductible in t… read more
Sam
Sam
Accountant
Higher Officer HMRC
15,712 satisfied customers
I have just left my employment with effect from 31.3.2011.My
This is UK tax question following the loss of employment on a Compromise agreement basis. I have just left my employment with effect from 31.3.2011. My compromise agreement pays me £40,000 on 31.4.11 … read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
In 2008 I left a previous employer under a Compromise Agreement
In 2008 I left a previous employer under a Compromise Agreement by reason of redundancy. The composition of my financial package was substantially a PILON as my period of notice value was greater than… read more
Sam
Sam
Accountant
Higher Officer HMRC
15,712 satisfied customers
I had Compromise Agreement in 2008, the Inland Revenue are
I had Compromise Agreement in 2008, the Inland Revenue are now chase e for tax covering this period ( they have NOT seen my compromise agreement or employment contract) In brief my agreement stated " … read more
CCTax
CCTax
Bachelor's Degree
324 satisfied customers
just finished work redundant am i supposed to pay tax on lieu
just finished work redundant am i supposed to pay tax on lieu of notice 12 weeks pay finised straight away did not work notice period,have paid tax on lieu of notice… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
I am about to become redundant after 26 years and with 2 years
I am about to become redundant after 26 years and with 2 years to retirement. I will get statutory redundancy untaxed, and 12 weeks pay in lieu of notice which is taxeable. My employment end date is s… read more
Sam
Sam
Accountant
Higher Officer HMRC
15,712 satisfied customers
I am negotiating a Voluntary Severance at my request with my
I am negotiating a Voluntary Severance at my request with my employer it is not redundancy. A Compromise Agreement is in place but they quote. The parties understand that in accordance with Chapter 3 … read more
Sam
Sam
Accountant
Higher Officer HMRC
15,712 satisfied customers
I have just been made redundant after a 35 year career and
I have just been made redundant after a 35 year career and have the opportunity to undertake work for my former employer on a more casual (self-employed) basis. What is the minimum break required in e… read more
Sam
Sam
Accountant
Higher Officer HMRC
15,712 satisfied customers
we are paying someone under 3,000 redundancy made up of 4
we are paying someone under £3,000 redundancy made up of 4 weeks notice and 2 weeks holidays, do we pay tax as a company on this… read more
Smith Jones
Smith Jones
Bachelor's Degree
1,484 satisfied customers
Hi. I hve recently been redundant and have been asked to sign
Hi. I hve recently been redundant and have been asked to sign a compromise agreement so that 3 months salary can be paid to me in lieu of notice. My contract of employment (which I have never seen per… read more
Clare
Clare
Solicitor
Bachelor's Degree
149 satisfied customers
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