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Redundancy Tax Query

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karl_jackson
karl_jackson Posts: 17 Forumite
in Redundancy & redundancy planning
When somebody is made redundant and qualifies for a redundancy payment what part of the final settlement is taxable and what is tax free?

Salary
Redundancy
Owed holiday
Notice

Thanks in advnce

Comments

  • ffacoffipawb
    ffacoffipawb Posts: 3,593 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    karl_jackson wrote: »
    When somebody is made redundant and qualifies for a redundancy payment what part of the final settlement is taxable and what is tax free?

    Salary
    Redundancy
    Owed holiday
    Notice

    Thanks in advnce

    Redundancy (max £30,000)
    Anything else is taxed as income so 0%, 20%, 40% etc depending on amounts.
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