Redundancy And Pay In Lieu Of Notice
#1
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Redundancy And Pay In Lieu Of Notice
The department I work in is being closed and so I am to be made redundant.
I am sure 2 years ago when I was made redundant my Pay In Lieu went in my redundancy and therefore tax free.
Others I have talked to who have been made redundant are the same.
I am told that this redundancy will have my Pay In Lieu in my normal pay and therefore taxed.
Has legislation being tightened in the last two years?
Or is there a way to get the Pay In Lieu in the redundancy and therefore tax free? Legally of course
I am sure 2 years ago when I was made redundant my Pay In Lieu went in my redundancy and therefore tax free.
Others I have talked to who have been made redundant are the same.
I am told that this redundancy will have my Pay In Lieu in my normal pay and therefore taxed.
Has legislation being tightened in the last two years?
Or is there a way to get the Pay In Lieu in the redundancy and therefore tax free? Legally of course
#2
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Pay in lieu should be taxed, and that hasn't changed.
Some employers "bend" the rules a bit and call it all "redundancy" which is not taxable.
ps - this should probably be in NSR
Some employers "bend" the rules a bit and call it all "redundancy" which is not taxable.
ps - this should probably be in NSR
#3
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Cheers Diablo,
I thought as much, it's the 'bending' of the rules I need to find out about.
Damn, wrong forum again! no wonder I am getting a poor response. I will try NSR.
Cheers.
I thought as much, it's the 'bending' of the rules I need to find out about.
Damn, wrong forum again! no wonder I am getting a poor response. I will try NSR.
Cheers.
#5
Originally Posted by BrynO
Think you need a 'compromise agreement' with your employers to 'flex' the rules, then I believe £30k can be tax free..
As long as its agreed and in one lump sum the its what Bryn says. If they just continue to pay you for your notice period you'll get taxed.
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27 September 2015 09:44 PM