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Related UK Tax Questions
I am about to be made redundant and will receive about £140k
I am about to be made redundant and will receive about £140k in redundancy pay in this tax year. I did not expect redundancy and so took my final salary DBS pension wef 1 January (after 40 years servi… read more
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I was made redundant Dec 2010, i had 3 months notice period
I was made redundant Dec 2010, i had 3 months notice period but was paid in lieu end of January and then received my redundancy package. Now Inland Revenue will ask for more tax as only paid basic rat… read more
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If I am offered an early retirement package and there is a
If I am offered an early retirement package and there is a lump sum involved. Can I pay that lump sum into my Pension fund to avoid tax on the way out? If this is correct what are the limitations ?… read more
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I have been offered early severance around March next year
I have been offered early severance around March next year with a redundancy payment of £55,489, a retirement grant of £58,565 and an annual pension of £21,123. My current annual salary is £41,719. Wo… read more
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I am taking voluntary severence from a Govt Agency, having
I am taking voluntary severence from a Govt Agency, having full 21 months, the compensation lump sum will be approx £78k gross, knowing 30k is tax free. Should I take the hit on tax or take the maximu… read more
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I have volunteered for redundancy leaving probably at the end
I have volunteered for redundancy leaving probably at the end of september 2011 dependant on the quote received. This will be 21 months salary totalling 70,737. By the time I leave I will have worked … read more
Sam
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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 about to take a lump sum early retirement amount of 28k
I am about to take a lump sum early retirement amount of £28k on May1st 2011. I am still working and earn £19.5K per annum. How much tax will I pay on my lump sum and will my tax code change on my sal… read more
Sam
Sam
Accountant
Higher Officer HMRC
15,898 satisfied customers
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
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If I have paid tax on a severance package this tax year but
If I have paid tax on a severance package this tax year but now worked, will the tax office automatically send me a refund or do I have to apply for it ?… read more
Sam
Sam
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My wife is employed in a UK local authority education department.
My wife is employed in a UK local authority education department. She has reached state retirement age (60) and is considering retiring next August. A typical local authority pension gives an annual p… read more
Tony Tax
Tony Tax
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l am looking at taking early retirement from local government
l am looking at taking early retirement from local government and have final salary pension plus a redundancy payment on offer. l am about to meet my employer to consider when l finnish with the Counc… read more
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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
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How much tax will I pay on a redundancy payment of 83,000,
How much tax will I pay on a redundancy payment of £83,000, a pension lump sum of £83,000 and an annual pension of £14,000… read more
Sam
Sam
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Higher Officer HMRC
15,898 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
Accountant
Higher Officer HMRC
15,898 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
Tony Tax
Tax Consultant
High School or GED
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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
15,898 satisfied customers
I have been offered an early retirement package. I will recieve
I have been offered an early retirement package. I will recieve about £84,000 gross lump sum then an annual pension of about £45,000. I may have the choice of leaving March 2010 (ie this tax year) or … read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
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