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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
Accountant
Higher Officer HMRC
6,734 satisfied customers
Sirs, I will receive £51000.00 approx redundancy in July /October
Sirs, I will receive £51000.00 approx redundancy in July /October (13000/17000) tax free allowance and 21000 taxable. As I retire in December is there any method of avoiding tax on this £21000, as I w… read more
TaxVince
TaxVince
Senior Accountant
Master's Degree
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I have been offered a redundancy (severance) package of £80k
I have been offered a redundancy (severance) package of £80k by my employer today. I have not worked for the last 5 years. My earnings this year will be around £5.5K. My income next year would be zero… read more
TaxVince
TaxVince
Senior Accountant
Master's Degree
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I am being made redundant, last day is 1st March with the final
I am being made redundant, last day is 1st March with the final payment due to be made in March. The payout is as follows: Redundancy: £45,000 (first £30K tax free) Payment in Lieu of notice (PILON): … read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
Hi, I am likely to be made redundant in 3 weeks from a UK Company.
Hi, I am likely to be made redundant in 3 weeks from a UK Company. I am entitled to 4 weeks statutory pay (no of year service is 4). However, my Company has indicated that I could receive a redundancy… read more
TaxVince
TaxVince
Senior Accountant
Master's Degree
899 satisfied customers
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
Senior Accountant
Master's Degree
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Hi .. this service seems too good to be true.. but heres my
Hi .. this service seems too good to be true.. but here's my question.. I have a redundancy payment due to me shortly which amounts to just over £60k. If I get this paid into my newly set up business … read more
Sam
Sam
Accountant
Higher Officer HMRC
6,734 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
16,712 satisfied customers
Hello My wife was made redundant from her job as Asst.
Hello My wife was made redundant from her job as Asst. Head Teacher almost exactly two years ago. She took early retirement which allowed her to access her actuarially-reduced pension and lump sum as … read more
berduchwal
berduchwal
Accountant
Licenciatura
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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
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
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
Sam
Sam
Accountant
Higher Officer HMRC
6,734 satisfied customers
Ive been offered redundancy payment of 66K if I leave in
I've been offered redundancy payment of £66K if I leave in Jan this year - what are the tax implications - I know the first 30k is tax free and I currently pay tax at 40% but will I pay 40% on anythin… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
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
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
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
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
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
Sam
Sam
Accountant
Higher Officer HMRC
6,734 satisfied customers
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
Accountant
Higher Officer HMRC
6,734 satisfied customers
Im taking redunacey and will receive 80,000.00.I have been
I'm taking redunacey and will receive £80,000.00.I have been advised my employer that i will get 30,000.00 tax free and the rest of the money will be taxed on the higher rate(40%) Please advise me is … read more
Sam
Sam
Accountant
Higher Officer HMRC
6,734 satisfied customers
I have redundancy cover which will pay me 2500 a month. If
I have redundancy cover which will pay me £2500 a month. If my employer offers me £30,000 plus as a voluntary redundancy payment will I be tax exempt on the first £30k paid by my employer and then pay… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,734 satisfied customers
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