tax help

josie31

Hi,

Wondering if anyone can help me...I am due to go on maternity leave in a few weeks but am also being made redundant at the same time. As a result my maternity pay will be paid to me in a lump sum at the end of april along with one weeks wages and a redundancy pay out of £1169. I am obviously trying to work out exactly how much tax I will pay on this as need to work out how much I will have left to spread out over the coming months to live on...I already understand that being made maternity leave in one lumop sum will mean i pay more tax on it than I would have done had it come in in installments every month but hopefully should be able to claim some of that tax back in april 2012.

I will receive approximately:

1 weeks wage - £389.66
redundancy pay out - £1169
maternity pay - £6225.20

so in total £7783.86 in one go....I'm assuming I won't pay tax on the redundancy pay but obviously the rest will be subject to tax.

Would appreciate any help on this as apart from weekly tax credits this will be my only income for 9 months so need to plan and budget accordingly.

Thanks