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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
15,762 satisfied customers
I was made redundant in August and received 56,815.50 and
Hi I was made redundant in August and received 56,815.50 and had to pay tax which totalled 10,908.41 I have yet to find any work will I get some of it back come April 2017?… read more
bigduckontax
bigduckontax
Accountant
FCCA FCMA CGMA ACG
1,335 satisfied customers
Hi, I left my previous employer due to voluntary redundancy
Hi, I left my previous employer due to voluntary redundancy on 28th March 2013 but was paid my redundancy in the new tax year (11th April 2013), since then I have not worked or received employment inc… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
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
7,089 satisfied customers
My husband got a tax bil for 2010-11 for over £5000. He took
My husband got a tax bil for 2010-11 for over £5000. He took redundancy the previous year and had part of his redundancy deferred. As he paid tax by PAYE we foolishly assumed that all tax was deducted… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
I have recently been made redundant after 14 years, I am now
I have recently been made redundant after 14 years, I am now receiving job seekers allowance, am I entitled to a tax rebate of any type… read more
Sam
Sam
Accountant
Higher Officer HMRC
15,762 satisfied customers
I took redundancy in June this year and was taxed on the month
I took redundancy in June this year and was taxed on the month 1 OT formula. My total redincdy pay was about £54k and I paid about £11k tax. After being made redundant I made a claim for JSA for two w… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
Hi I was on a salary of 46,621 per annum but got made redundant
Hi I was on a salary of 46,621 per annum but got made redundant from 15th august and was given a PILON payment for 12 weeks pay (taking me from 4th aug to 27th october) i also received a redundancy pa… read more
Tony Tax
Tony Tax
Tax Consultant
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
7,089 satisfied customers
Iam due to receive a reduncacy payment of 90,000 on 6th April
Iam due to receive a reduncacy payment of £90,000 on 6th April 2011, i can move the payment date to the 5th April if it wwas beneficial. Can you advice me which date is more tax efficient bearing in m… read more
Sam
Sam
Accountant
Higher Officer HMRC
15,762 satisfied customers
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
Accountant
Higher Officer HMRC
15,762 satisfied customers
I am at risk of redundancy and have a consulation tomorrow
I am at risk of redundancy and have a consulation tomorrow morning. I am on a 6 month notice period and currently earn £83k p.a. plus benefits. How can I maximise the £30k tax free element of my redun… read more
Sam
Sam
Accountant
Higher Officer HMRC
15,762 satisfied customers
can you tell me if you are taxed on a redundancy payment based
can you tell me if you are taxed on a redundancy payment based on your taxable income in the year you receive the redundancy payment even if you leave the job in the previous tax year eg job terminate… read more
Sam
Sam
Accountant
Higher Officer HMRC
15,762 satisfied customers
I have just been made redundant. I currently earn 34,000
I have just been made redundant. I currently earn £34,000 per annum I am to receive 12 weeks pay in lieu on 28th February, £7,846 before tax and a redundancy payment of £10,000 free of tax. My query i… read more
Sam
Sam
Accountant
Higher Officer HMRC
15,762 satisfied customers
For redundancy payment above 30k is income tax point the date
For redundancy payment above £30k is income tax point the date of redundancy or date of redundancy payment… read more
Sam
Sam
Accountant
Higher Officer HMRC
15,762 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
15,762 satisfied customers
Hi I am being made redundant 31st march 2011. I have been told
Hi I am being made redundant 31st march 2011. I have been told that the 1st £30k is tax free but the anything after that is taxed at 40%. However I have also been told that if my employers (Met Police… read more
Sam Pathak
Sam Pathak
Chartered Tax Adviser
Master's Degree
468 satisfied customers
I was made redundant on the 6th March 2010. I had a redundancy
I was made redundant on the 6th March 2010. I had a redundancy payment over £30k therefore I paid tax on this. I have been told that, after 6 weeks of redundancy and not finding employment I am entitl… read more
Sam
Sam
Accountant
Higher Officer HMRC
15,762 satisfied customers
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