Quote:
Originally posted by chickenThat 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! |
I believe Chicken's right, unless the redundancy is being considered as normal pay (it can be where redundancies are not "genuine", eg a pre-arranged handshake at the end of a fixed term employment - this is meant to close a tax loophole).
If your redundancy was less than £46K, you need to find out whether the payment was treated correctly for tax purposes. Good luck.
Er, £46K, not £46. D'oh.
[Edited on 13-2-2005 by Loz]