Any Tax Guru's out there - Can u advise?

ScottAnne

Looking to see if I can claim a tax refund on redundancy money. Bit of an unusual situation.

Been on Maternity Leave since May 2011. Recieving SMP. I applied for redundancy in Sept 2011 and approved in October 2011, recieved my monies but no P45 as I was still entitled to received the remainder of my SMP which was until 12th Feb 2012.

My current payslip shows the fgollowing:

Tax Code 747L
Taxable pay T/D = 13804.63
Tax Paid T/D = 1514.40
SMP T/D 5502.00

As far as I am aware I was officially redundant since 12th Feb, I have gotten a new job and am due to start 28th Feb.

Wondering if I can claim the tax back from the taxable element of my redundancy money. A colleague of mine who was higher paid and recieved a higher redundancy amount paid half what I did.

The payslip from my Redundancy month shows all sorts of stuff. For instance P.I.L.O.N taxed = 1300.24 I am assuming that's the amount I paid on my taxable redundancy money?

Any thoughts?

mildred1978

ScottAnne wrote: »

Looking to see if I can claim a tax refund on redundancy money. Bit of an unusual situation.

Been on Maternity Leave since May 2011. Recieving SMP. I applied for redundancy in Sept 2011 and approved in October 2011, recieved my monies but no P45 as I was still entitled to received the remainder of my SMP which was until 12th Feb 2012.

My current payslip shows the fgollowing:

Tax Code 747L
Taxable pay T/D = 13804.63
Tax Paid T/D = 1514.40
SMP T/D 5502.00

As far as I am aware I was officially redundant since 12th Feb, I have gotten a new job and am due to start 28th Feb.

Wondering if I can claim the tax back from the taxable element of my redundancy money. A colleague of mine who was higher paid and recieved a higher redundancy amount paid half what I did.

The payslip from my Redundancy month shows all sorts of stuff. For instance P.I.L.O.N taxed = 1300.24 I am assuming that's the amount I paid on my taxable redundancy money?

Any thoughts?

Had they paid you a lump sum for redundancy, you would not have been taxed (on the first £30k).

PILON is taxable. No way around that.

pjclar02

If part of the payment is for statutory redundancy pay - this will be tax free.

Payments in lieu of notice are taxable as mentioned.

Any other non-contractual payment could be tax-free - but your payment is likely to be made up from the two elements above.