We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 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!
2 Redundancies in Tax Year
andy51210
Posts: 1 Newbie
Hi all,
I've not be able to find a definite answer to this on the interweb, so I would appreciate some info if anybody knows.
I am in the fairly unique position whereby I will be getting 2 x severance payments in 1 tax year from 2 different companies. The 2 payments combined will exceed the £30k tax free allowance. So my question is whether the tax free allowance is per tax year or per redundancy.
I hope that makes sense, and thank you for any answers in advance.
I've not be able to find a definite answer to this on the interweb, so I would appreciate some info if anybody knows.
I am in the fairly unique position whereby I will be getting 2 x severance payments in 1 tax year from 2 different companies. The 2 payments combined will exceed the £30k tax free allowance. So my question is whether the tax free allowance is per tax year or per redundancy.
I hope that makes sense, and thank you for any answers in advance.
0
Comments
-
https://www.taxinsider.co.uk/542-The_30000_Redundancy_Myth.html suggests it is per termination, not per tax year.
That link was top of the search results I found and the gov.uk/government website would confirm this.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.9K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards