Tax due on redundancy

Smudgers

I was lucky enough to receive a £100k redundancy payment in March 2009 where the employer deducted 20% tax! Therefore, after first £30k tax fee amount, I received £86k (£100k - £30k = £70k x 80%). The tax is liable in tax year 2009/10 so I think I need to pay the tax to HMRC by 31 Jan 2010? I don't complete self assessments - HMRC told me that PAYE through my employer was sufficient! Can anyone help me through the process and tell me what I need to do and whether the other 20% (£14k) needs to be paid soon? Many thanks!!

fengirl_2

Tax for the current year is payable by 31 Jan 2011 - HMRC will issue an assessment together with a demand some time after 5/4/10.

Smudgers

Thanks! I was under the impression that as I received the payment in March 2009 that I would have to submit a SA some time before 31/01/2010 and make payment at the same time. Should I just ring the tax office and ask?

Debt_Free_Chick

fengirl wrote: »

Tax for the current year is payable by 31 Jan 2011 - HMRC will issue an assessment together with a demand some time after 5/4/10.

It seems that the redundancy payment was paid in March 2009 i.e. in the 2008/2009 tax year ....