Volountary Redundancy

Rose_petal_2

I have been offered V.R and would like to know if there is anyway I can reduce the amount of tax I would have to pay. I know the first £30k is tax free however can I make a lump sum contribution to my pension prior to the remaining sum being paid with my last salary payment in order to reduce the amount of tax I would pay? Alternatively I have a staff mortgage and again would I be able to make a contribution to this from my gross payment in order to reduce the amount I receive in my salary? Any advice on how to reduce my tax liability would be appreciated. (I am a basic rate tax payer but do not want to give the tax man any more than I have to)

getmore4less

Pension would work but that would work with the tax you currently pay on income. Probably not worth it till you get to 40% tax for the year. AIUI you can make the payment later in the tax year and still get the rebate

The eaiest way is to get it paid in the new tax year and it wll be taxed less.

Problem is any further earnings just get taxed more.