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tax and new job after redundancy
zebedy
Posts: 425 Forumite
Hi,
I'm at risk of redundancy but should get a good package. I understand that the 1st £30,000 of that package is given tax-free, but then a colleague told me that if you start a new job for another company within 1 month of getting redundancy then you have to pay tax - is this true??
I'm at risk of redundancy but should get a good package. I understand that the 1st £30,000 of that package is given tax-free, but then a colleague told me that if you start a new job for another company within 1 month of getting redundancy then you have to pay tax - is this true??
MS Stalwart. Used site for >10 years :j
Make Do, Mend and Minimise member - focussing on upcycling/repurposing and sewing
0
Comments
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NO, (asuming an unrelated new company, gets compicated if related),
The surplus over £30k becomes taxable at your marginal rate and any future earning in the same tax year just get added on to teh earnngs for the year.
No NI on the redndancy payment.0
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