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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
6,712 satisfied customers
I'm in the process of being made redundant and I want to
I'm in the process of being made redundant and I want to ensure that I am going to receive the money in the most tax efficient way … read more
Sam
Sam
Accountant
Higher Officer HMRC
6,712 satisfied customers
That's kind of you to offer to help. I have received a
Hello Sam, that's kind of you to offer to help. I have received a redundancy payment after 18yrs of service. £30k was deemed tax free (it's a big multi-national, so I'm sure they've got that bit corre… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,712 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
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Hi, I have a question on taxable benefits . In 07/08, 08/09
Hi, I have a question on taxable benefits. In 07/08, 08/09 09/10 I received taxable medical benefits which I was not aware of (I assumed these were all done through payroll). Each of these years, I as… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
I am about to get an offer of redundancy. The first £30k is
I am about to get an offer of redundancy. The first £30k is initially tax free and at the moment the redundancy payment will be post P45 and will be paid after 6 April 2012 (in the new tax year). Is t… read more
Tony Tax
Tony Tax
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High School or GED
7,089 satisfied customers
Interesting question - I just received a letter from the revenue
Interesting question - I just received a letter from the revenue to complete a tax return for April 2008 to April 2008. Previously to that they had written to me in December 2007 saying I dont need to… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
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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
6,712 satisfied customers
I have been a working for a U.K. company abroad and am a overseas
I have been a working for a U.K. company abroad and am a overseas resident in a asian country for 5 years I have been made redundant from the U.k. company. My redundancy payment is over 30,000GBP but … read more
Sam
Sam
Accountant
Higher Officer HMRC
6,712 satisfied customers
My partner is a standard rate tax payer,earning c.35k pa. She
My partner is a standard rate tax payer,earning c.35k pa. She will be made redundant at the end of March 2011 or end of April 2011. Her redundancy will be c.50k, of which the first 30k is tax free. Co… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
My permanent role at a company was made redundant in September
My permanent role at a company was made redundant in September 09. Since then, I have been working on a secondment, in a completely different part of the business. I am due to leave at the end of Marc… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
I was made redundant from a UK bank last July. I previously
I was made redundant from a UK bank last July. I previously asked if there was a tax implication on my redundancy pay-out of my being re-employed by the same bank but in a different role. I was told n… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
My husbands company has restructured and the role he has held
My husband's company has restructured and the role he has held for 5 years no longer exists, so he is being made redundant, receiving an enhanced package plus a PILON. His original redundancy date was… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
I have been made redundant by a UK Bank on a voluntary basis.
I have been made redundant by a UK Bank on a voluntary basis. I am due to leave on Monday 30th November. I have been made aware of a vacancy for a contractor position and I am concerned that this will… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,712 satisfied customers
Hi Worked for BOC Gases for 20 years as a Major Account Manager,
Hi Worked for BOC Gases for 20 years as a Major Account Manager, fully employed by them, I took voluntary redundancy in August 2009 and my payoff was over the £30k. BOC have identified an opportunity … read more
Sam
Sam
Accountant
Higher Officer HMRC
6,712 satisfied customers
I was made redundant in Nov 08 and received a redunancy payment
I was made redundant in Nov 08 and received a redunancy payment > gbp 30k. Now the same company that made me redundant wants to hire me back. Will I loose the tax benfit I enjoyed last year on the … read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
I was made redundant in 2007 and as part of my package I was
I was made redundant in 2007 and as part of my package I was given shares in my company. I was told I would be liable for 40% tax on these. Before I was issued the share certificate I had to pay 22% t… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,712 satisfied customers
I am being made redundant in April 2009 and my redundancy payment
I am being made redundant in April 2009 and my redundancy payment will be something in the region of £60k. My annual gross salary is in the region of £75k therefore I am a 40% tax payer. My employers … read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
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