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Redundancy payout handling
amarsreject
Posts: 7 Forumite
I'm about to receive a large (for me) redundancy payout from my previous job. it's going to be just under £30K, and I'm not sure what I should do with it all. There are a few things that I'll do immediately, such as paying off cards, but then should I split the rest into different accounts? And if so, what sorts? Also, will I be taxed hard on this? It should come into my regular account around the 25th.
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Comments
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Redundancy payouts up to £30k are tax free. What to do with it depends on how soon you will need to spend it. Are you currently unemployed or do you have another job lined up?0
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https://forums.moneysavingexpert.com/discussion/comment/75468406#Comment_75468406
Some suggestions in post 6 may be worth a look.0
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