Ready, steady… save!
You don’t need a chart to join in. Here are 2 ways to record your savings:
1. Cross it off
Pop a chart into your first post. Saved an amount? Cross it out! Read more »
£0.01 £0.02 £0.03
2. Write it down
Skip the chart and add updates to your first post. Read more »
“Another +£3 saved today. Go me!”
Use +£ before each new saving so it counts towards your total.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Settlement agreement - compensation/redundancy tax
jediwalker
Posts: 15 Forumite
I am being made redundant - however - I have just had a grievance upheld stating I should have been given a job at the start of the process (I was on maternity leave). After a lot of moaning I have managed to negotiate myself into a position where my employers are offering me a settlement agreement to leave earlier than planned which is made up of 3 payments - redundancy/PILON/ex gratia compensation. I’m comfortable with the tax on the redundancy & PILON.
My question is around the tax on the ex gratia part of it - should this be taxable or not - as its not a contractual payment and not in reward of working for them I believe not - but I’m no expert!
Any views?
Thanks
My question is around the tax on the ex gratia part of it - should this be taxable or not - as its not a contractual payment and not in reward of working for them I believe not - but I’m no expert!
Any views?
Thanks
0
Comments
-
Tax on PILON, yup that's normal, tax on redundancy, anything over 30k.
Why are they paying an ex-gratia? What's it to compensate you for?Space available for rent0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.9K Banking & Borrowing
- 255K Reduce Debt & Boost Income
- 456.2K Spending & Discounts
- 248.4K Work, Benefits & Business
- 606.1K Mortgages, Homes & Bills
- 179.1K Life & Family
- 263.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.7K Read-Only Boards