We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
What Redundancy can be tax-free ?
Electric_Blue
Posts: 9 Forumite
My company is offering monthly incentive payments for us to stop until the end of our contract , approx 3 months. My boss has offered to pay me a smaller monthly sum than I could get , but will then add the balance to my redundancy pay ( as a type of company loyalty ) - and therefore tax free. That is good for me, and doesnt cost my company anything, but is it legally okay to do this ?Thanks for any advice given.
0
Comments
-
Ive read some more about this , and it seems 'loyalty' payments are a real grey area. Seems the government can have their tax and eat it ! I guess if Im not comfortable with doing something that may be 'dodgy' then I dont do it.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.9K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards