06 Jun 2016

A question about : what payments are taxable on redundancy?

Hello Guys

I have just been made redundant after 9 months with a company. can anyone give me advice on what i will and won't pay tax on.

1, I get a months pay in lieu of notice, i,e i have been told to finish work today but i get paid until the end of february.
I think i pay tax and NI on this?

2, My company didn't manage to set up my pension or health insurance in the time i was with them due to admin problems. so as a gesture of goodwill they are going to pay me the few thousand pounds, they would have spent on this.
I dont think i should pay tax on this but i'm not sure?

any advice would be appreciated for me to help budgeting

thanks

james

Best answers:

    Category: 
    Redundancy & Redundancy Planning
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