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Related UK Tax Questions
I am being made redundant, and my redundancy payment is
I am being made redundant, and my redundancy payment is likely to exceed £100,000. I understand the £30K tax free element may be reduced in this case. How is that reduction calculated?… read more
Sam
Sam
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Higher Officer HMRC
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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
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TaxVince
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Good morning. I have been made redundant with a £90,000 redundancy
Good morning. I have been made redundant with a £90,000 redundancy package. They have paid this amount to me for this tax year at my request. This was done because last year my earninigs were £120,000… read more
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I retired on 31st March 2011 wand was paid my bonus in May.
I retired on 31st March 2011 wand was paid my bonus in May. I had already received a P45 dated 31st March. Should I have received the bonus gross and should either my ex-employers or me paid any NIC's… read more
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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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I am at risk of redundancy and have a consulation tomorrow
I am at risk of redundancy and have a consulation tomorrow morning. I am on a 6 month notice period and currently earn £83k p.a. plus benefits. How can I maximise the £30k tax free element of my redun… read more
Sam
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can you tell me if you are taxed on a redundancy payment based
can you tell me if you are taxed on a redundancy payment based on your taxable income in the year you receive the redundancy payment even if you leave the job in the previous tax year eg job terminate… read more
Sam
Sam
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If I get a 44,000+ redundancy package at the beginning of
If I get a £44,000+ redundancy package at the beginning of the tax year, does that mean anything I earn after that will incur 40% tax in that year? Or is the £30,000 tax exampt bit, not included as 'e… read more
Sam
Sam
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Higher Officer HMRC
6,702 satisfied customers
I have been offered 50,000 in severance pay by my employer.
I have been offered £50,000 in severance pay by my employer. In the termination contract it states that the first 30,000 is tax free and the balance of 20,000 will be taxed at a basic rate of 20%. Is … read more
Sam
Sam
Accountant
Higher Officer HMRC
6,702 satisfied customers
Hi Sam, I have been offered two options for early retirement
Hi Sam, I have been offered two options for early retirement with my last working day being 1 March, 2011. I will be 56 and have been offered early retirement on an enhanced pension. I have paid into … read more
Sam
Sam
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I have been notified that I will be made redundant at the end
I have been notified that I will be made redundant at the end of December and will receive a package which will put my total earnings for that year in a higher tax bracket. Is there anyway I can reduc… read more
Tony Tax
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I am 52 and being made redundant after almost 16 years service.
I am 52 and being made redundant after almost 16 years service. My employer has offered a package consisting of a tax free statutory redundancy payment, payment in lieu of notice, holiday pay and empl… read more
Sam
Sam
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Higher Officer HMRC
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I will receive 94,000 redundancy pay. I know the 1st 30,000
I will receive £94,000 redundancy pay. I know the 1st £30,000 is tax free but I am going to be hammered with 50% tax on the rest as this will be paid in a lump sum and my earnings for the year will al… read more
Sam
Sam
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Higher Officer HMRC
6,702 satisfied customers
When I was made redundant last year my employer paid me an
When I was made redundant last year my employer paid me an amount of £22000 directly to my pension fund.I was also paid £30,000 cash. My accountant insists that this is an employer contribution and th… read more
Sam
Sam
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Higher Officer HMRC
6,702 satisfied customers
As part of a leaving package I was due to receive an ex gratia
As part of a leaving package I was due to receive an ex gratia payment of £34k as compensation for not receiving a salary for the rest of 2010. I have received the money on Friday but the company has … read more
Sam
Sam
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Higher Officer HMRC
6,702 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
6,702 satisfied customers
I am going to be made redundent at the end of January 2010
I am going to be made redundent at the end of January 2010 from my company at which I have been employed in for 5 yrs. The company has decided to split the final wage payments in to 2 payments. In jan… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,702 satisfied customers
I have been made redundant & will received my 6 months notice
I have been made redundant & will received my 6 months notice (37,500), I believe that the first 30,000 can be paid tax free. My Contract contains the following point; "The Company reserves the right … read more
Sam
Sam
Accountant
Higher Officer HMRC
6,702 satisfied customers
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