09 Mar 2015

If offered another job in another location...

A question about : If offered another job in another location...

Sister may be being made redundant as the office of the small business she works in may be closing.

The nearest office is a 3 hour round trip away.

If she refuses an alternative post at this office, will she still be entitled to redundancy pay?

She's in 2 minds as to whether to hold out for redundancy pay, or just look for another job now. This is one of the factors she needs to know for her decision. Thanks.

09 Mar 2015

Employee or self-employed?

A question about : Employee or self-employed?

My friend has bought a franchise with a courier company and he wants me to work with/for him. What are the financial pro's and cons of both options?

09 Mar 2015

Advice? And what to do with a lump sum?

A question about : Advice? And what to do with a lump sum?

I've been offered a decent voluntary redundancy package and I'm weighing up the pros and cons. I'm looking at having a meeting with my employer over the next few days so I thought I'd try and arm myself with some facts before hand. [I'm married with a working wife and no kids if that makes any difference]

09 Mar 2015

How much National Insurance do I pay on my lump sum?

A question about : How much National Insurance do I pay on my lump sum?

Hi,

I understand that the first Ј30k is tax free and that the rest is taxed as usual. Am I right that NI is calculated on the taxable amount as normal too?

For example, Assuming I would receive a Ј65k lump sum on 6th April Ј30k would be tax and NI free leaving Ј35k which would be taxable. According to this link https://www.listentotaxman.com/35000 I would be due to pay Ј5000 tax and Ј3245.28 in National Insurance

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