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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
14,444 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
11,942 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
1,972 satisfied customers
If I recieve a reduncy payment of £110000 is the tax calculated
If I recieve a reduncy payment of £110000 is the tax calculated as follows: 0-£30000 (tax free) £30001 - £67401 (20%) £67402 - £110000 (40%)… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
11,942 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
11,942 satisfied customers
I have just left my employment with effect from 31.3.2011.My
This is UK tax question following the loss of employment on a Compromise agreement basis. I have just left my employment with effect from 31.3.2011. My compromise agreement pays me £40,000 on 31.4.11 … read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
11,942 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
14,444 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
14,444 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
14,444 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
14,444 satisfied customers
I have just been made redundant after 3 years with my employer.
I have just been made redundant after 3 years with my employer. In addition to Statutory Redundancy I am being offered 6 months salary, approximately £50k, by way of Compensation for Loss of Office. I… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
11,942 satisfied customers
As part of a leaving package I was due to receive an ex gratia
As part of a leaving package I was due to receive an ex gratia payment of £34k as compensation for not receiving a salary for the rest of 2010. I have received the money on Friday but the company has … read more
Sam
Sam
Accountant
Higher Officer HMRC
14,444 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
14,444 satisfied customers
can you tell me what happens to my redundancy if i became a
can you tell me what happens to my redundancy if i became a shareholder of a new 2nd company by the same employer.… read more
Sam
Sam
Accountant
Higher Officer HMRC
14,444 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
14,444 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
14,444 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
14,444 satisfied customers
Hi, I am currently going through the redundancy process.
Hi, I am currently going through the redundancy process. I have 35 years service and my redundancy pay is calculated based on 1 mo pay per year of service up to 24 months. My redundancy pay is therefo… read more
Sam
Sam
Accountant
Higher Officer HMRC
14,444 satisfied customers
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