VR on the horizon - things to consider please?

veryintrigued

Hi there

I've applied for VR and have now received an estimate of the settlement.

I've done some investigation on the 30k tax and NI rules via the HMRC site.

What sort of other things (on the settlement) should I be considering please?

Thanks as always in advance.

Settlement is 35k btw with an assumed end date of the end of March 2014.

Wilkins

veryintrigued wrote: »

Hi there

I've applied for VR and have now received an estimate of the settlement.

I've done some investigation on the 30k tax and NI rules via the HMRC site.

What sort of other things (on the settlement) should I be considering please?

Thanks as always in advance.

Settlement is 35k btw with an assumed end date of the end of March 2014.

You may find that, whatever your tax band, the excess over £30 is taxed at 40% and then you have to claim it back.

ermine

Settlement is 35k btw with an assumed end date of the end of March 2014.

Any change of your employer paying you the main lump as 30k in that year and the 5k in a month's time (into the next tax year)?

Some will do that for VR payments.

Takeaway_Addict

Enjoy December and then start looking to cut costs from January living wise

veryintrigued

ermine wrote: »

Any change of your employer paying you the main lump as 30k in that year and the 5k in a month's time (into the next tax year)?

Some will do that for VR payments.

Thats an Avenue I need to explore and one I've seen mentioned before .

Thanks for this.