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redundancy

cactuslove
cactuslove Posts: 16 Forumite
in Reclaim mortgage fees, council tax, etc
I have heard that if you are unemployed after redundancy for a year then you can claim back any tax that was taken of the original payment. I am not sure if this is right. Can anyone give me some better ideas on this.
Thanks

Comments

  • McKneff
    McKneff Posts: 38,857 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Dont really understand what you mean.

    Redundancy payment is not taxable. So there would be none to reclaim.
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
  • cactuslove
    cactuslove Posts: 16 Forumite
    The amount will be receiving is taxable as far as I have been led to believe.
  • tanith
    tanith Posts: 8,091 Forumite
    Part of the Furniture Combo Breaker
    McKneff is right about it not being taxable up to the first £30,000 as far as I am aware....
    #6 of the SKI-ers Club :j

    "All that is necessary for evil to triumph is for good men to do nothing" Edmund Burke
  • McKneff
    McKneff Posts: 38,857 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Redundancy pay is not taxable.
    Any other pay you get like notice pay or accrued holidays is taxable.
    and it depends how much pay you get over the full year from April to March
    as to whether you get a tax rebate.
    So whoever told you that obviously doesnt know what they are talking about.
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
  • McKneff
    McKneff Posts: 38,857 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    I See Anniecave on your other post has mentioned redundancy pay as being taxable, she is wrong and i have posted there to say so.

    If you are still not convinced have a look at the ACAS site. This explains lots about redundancy.
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
  • cactuslove
    cactuslove Posts: 16 Forumite
    thanks for advice while check acas site to get more info.
  • Somerset
    Somerset Posts: 3,636 Forumite
    Part of the Furniture Combo Breaker
    The OP said in the other thread that the redundancy is 78K.

    I understood the first 30K is tax free, the balance follows the normal PAYE rules.
This discussion has been closed.
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