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UK income tax I am currently employed and contact will end
UK income taxGood morning I am currently employed and contact will end 31/ 3 2021 and will not be extended . Current annual salary and benefits is ca 104 k £ . I negotiated a redundancy payment of ca … read more
bigduckontax
bigduckontax
Accountant
FCCA FCMA CGMA ACG
1,362 satisfied customers
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
15,884 satisfied customers
L am 54 in november, l have a question about the new
hello l am 54 in november, l have a question about the new UK pension rules which means that l will be able to take my pension pot at age 55. To avoid take beyond the 25% sum you are allowed to take, … read more
bigduckontax
bigduckontax
Accountant
FCCA FCMA CGMA ACG
1,362 satisfied customers
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
7,089 satisfied customers
I am about to put a redundancy payout in excess of the £30k
I am about to put a redundancy payout in excess of the £30k limit into a contributory Pension Scheme. However at the same time I am taking a 25% tax free lump sum from a Defined Benefit plus linked AV… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
I am a higher rate tax payer, salary 58K, I will shortly recieve
I am a higher rate tax payer, salary 58K, I will shortly recieve a bonus of 105K and wish to reduce my tax liability. I am member of a defined benefits pension scheme, a company run AVC scheme (no com… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
Please correct me where i am wrong regarding tax relief on
Please correct me where i am wrong regarding tax relief on pension contributions. I pay tax at the 50% rate. I understand that in the 2011/2012 tax year there is a maximum of 50k relief that can be cl… read more
Sam
Sam
Accountant
Higher Officer HMRC
15,884 satisfied customers
Hi , I am potentially taking a redundancy package that I have
Hi , I am potentially taking a redundancy package that I have worked out is a sum total of 163,000. How do I work out what this will do to my tax situation and ow much I will get in my bank to decide … read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
Could you tell me how much tax I can expect to pay on an employer
Could you tell me how much tax I can expect to pay on an employer contribution of 112k, which was paid into my company stakeholder pension fund? I was made redundant on 31st March this year, and am un… read more
berduchwal
berduchwal
Accountant
Licenciatura
669 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
7,089 satisfied customers
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
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
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
Accountant
Higher Officer HMRC
15,884 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
15,884 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
7,089 satisfied customers
I AM 56 DIVORCED AND HAVE BEEN GIVEN THE OPTION OF TAKING VOLUNTARY
I AM 56 DIVORCED AND HAVE BEEN GIVEN THE OPTION OF TAKING VOLUNTARY REDUNDANCY WITH GLASGOW CITY COUNCIL - I HAVE CONTINUOUS SERVICE SINCE 11/02/1975 - MY CURRENT SALARY IS £44,540 - I HAVE BEEN OFFER… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 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
15,884 satisfied customers
If I was to put a lump sum of a money (e.g 30K) from a redundanc
If I was to put a lump sum of a money (e.g 30K) from a redundancy payment into my pension and then took a tax free lump sum from the pension,how does this work.… read more
Sam
Sam
Accountant
Higher Officer HMRC
15,884 satisfied customers
I am taking voluntary redundancy in a months time. I have
I am taking voluntary redundancy in a month's time. I have a final salary pension of around £24,000 a year from age 60 (next March) (in two pots, with two employers) and an investment pension pot of a… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
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