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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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In December 2005 I invested £5,000 for 5% share in the company
In December 2005 I invested £5,000 for 5% share in the company I work for. On setting up the transfer of shares with the owner and the accountant, to keep the salary cost down (employers NI) the owner… read more
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Sam
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As a result of my redundancy payment being taxed at the basic
As a result of my redundancy payment being taxed at the basic rate, rather than 40%, I unknowingly underpaid tax during the 2009/10 financial year. I was under the impression everything had been proce… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
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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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If someone is getting 6 months in lieu of notice and it is
If someone is getting 6 months in lieu of notice and it is a large amount. What is the correct way to deal with this. The first 30K is not ni'able and taxable but should the rest be paid outside the p… read more
Sam
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HMRC have sent me a tax return for April 2010 to April 2011.
HMRC have sent me a tax return for April 2010 to April 2011. Do I need to get professional advice to complete following my previous question?… read more
berduchwal
berduchwal
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I returned to the UK in Jan 2010 after 6 years overseas as
I returned to the UK in Jan 2010 after 6 years overseas as an expat for my company. I worked for them back in the UK until May when I was made redundant and received a redundancy payment. I subsequent… read more
Sam
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I am due to be made redundant with my last working day being
I am due to be made redundant with my last working day being March 24th. I am concerned regarding the tax situation of this payment as the majority of the payment will fall within the 50% tax bracket … read more
Tony Tax
Tony Tax
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I mentioned in previous correspondence that I was self employed
I mentioned in previous correspondence that I was self employed trading futures. To be clear it was not equities shares trading but futures derivative contracts on a professional level with payment of… read more
berduchwal
berduchwal
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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
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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
Tony Tax
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High School or GED
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hello i received a letter form the inland revenue saying
hello i received a letter form the inland revenue saying i owed £2400 for year 2007-8 . I usually pay my tax through PAYE. i was made redundant that year but got another job fairly quickly . as part o… read more
Sam
Sam
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Higher Officer HMRC
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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
Sam
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Higher Officer HMRC
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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
15,717 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
15,717 satisfied customers
I am 38 and about to be made redundant after 6.5 years service. I
I am 38 and about to be made redundant after 6.5 years service. I know my redundancy payment is due to be 6weeks @ £380 = £2280 but when (date-wise) must this be paid to me? Should it be on my last da… read more
Sam
Sam
Accountant
Higher Officer HMRC
15,717 satisfied customers
I am to be made redundant - and paid pay in lieu of notice
I am to be made redundant - and paid pay in lieu of notice together with severence pay on about 23rd january 2010, although my notice commences on 15th Jan and ends on 15th April. I am a higher rate t… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 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
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