Quote:
Originally posted by JasonBoswell
Sorry Jon, no I'm a permie so on PAYE. Just that a while back I got a redundancy pay-out (I took em to the cleaners!) that as it happens had only basic rate tax deducted. It was only in my last tax return that I realised, thus the big bill. |
That must have been some payout!
From my hazy memory of my tax exams several years ago, the first £30k of redundancy settlements are tax free.
If £2.7k was owed on the difference between basic and higher rate then it sounds like your total payout would have been about £46k.
You do have my sympathy Jason - but only if you are buying!