redundancy PILON tax reclaim

paulmcg

Hi

I have recemtly been made redundant and received a PILON payment for 4 months wages, As this has been paid in one month I have significantly been over taxed.

The tax office said that I cannot have a rebate and in my new job it will be accounted for and work itself out over the year?

Is this right?

Thanks

Paul

antonic

Thats correct because there are still 9 months to go till the end of the tax year 2012/13 on 5th April 2013.

If you successfully get another job between now & then (or go onto benefits) HMRC will not know what your total taxable income has been till the 5th April 2013.

By doing this they *may* be saving you from an underpayment of tax and if you have overpaid tax, they will refund you after 5th April 2013.

getmore4less

If you have a new job or claim JSA you have to wait.

alternative is a P50

flashnazia

If its pilon and there is nothing in your contract about pilon then no tax is payable anyway so you should get it back.

oscarward

I was made redundant in May, the Pilon was tax free, I just paid tax/NI on days worked that month up to termination and Holiday pay.

Check your T&C's