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.
Overpaid Redundacny Payment
NoBot
Posts: 3 Newbie
My ex-employer has overpaid my redundancy payment, do I have to pay it (the difference) back?
0
Comments
-
My ex-employer has overpaid my redundancy payment, do I have to pay it (the difference) back?
If they had underpaid you, would you let them keep it?Originally Posted by shortcrust
"Contact the Ministry of Fairness....If sufficient evidence of unfairness is discovered you’ll get an apology, a permanent contract with backdated benefits, a ‘Let’s Make it Fair!’ tshirt and mug, and those guilty of unfairness will be sent on a Fairness Awareness course."0 -
What is the law that dictates this?0
-
Originally Posted by shortcrust
"Contact the Ministry of Fairness....If sufficient evidence of unfairness is discovered you’ll get an apology, a permanent contract with backdated benefits, a ‘Let’s Make it Fair!’ tshirt and mug, and those guilty of unfairness will be sent on a Fairness Awareness course."0 -
My ex-employer has overpaid my redundancy payment, do I have to pay it (the difference) back?
It depends on the wording of the agreement you signed (assuming you signed one).
Is the amount different to that you were expecting (and was this documented anywhere?)
If it does need to be unravelled, then make them pay for you to have advice to ensure that it is properly done with regard to tax/NI etc and doesn't affect you later on down the line.
Lastly is the amount significant? Oh and does the amount you've been paid include anything like holiday pay, overtime, bonus etc, expenses, etc.0 -
-
Morals!? Really!? I've obediently served for 10yrs for a blood sucking multi-national company who are nothing but mercenary despite declaring they 'care' . . And then to be laid off the week before xmas when I've got two tiny kids. Morals! Nonsense!
Rant aside. It turns out I'm due an enhanced redundancy. So xmas wasn't as bad as it could have been. But I've a follow on question: Is National Insurance due for a redundancy payment over £30k?
I did ask the HMRC earlier, but some numpty there told me to ask ACAS!! Yes, really! I'll call them (HMRC)again tomorrow
0 -
Is National Insurance due for a redundancy payment over £30k?
https://www.gov.uk/staff-redundant/redundancy-payTax
Employees who’ve been made redundant only pay tax on payments over £30,000. They do not pay any National Insurance.
Tax and National Insurance are deducted from other termination payments, for example payment in lieu of holiday or notice.
See below re splitting out of the payment into component parts https://www.pensionsadvisoryservice.org.uk/content/spotlights-files/uploads/Redundancy_June_2018_Final4.pdf
https://www.litrg.org.uk/tax-guides/employment/what-tax-do-i-pay-redundancy-payments
1
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 347.8K Banking & Borrowing
- 251.9K Reduce Debt & Boost Income
- 452.2K Spending & Discounts
- 240.2K Work, Benefits & Business
- 616.4K Mortgages, Homes & Bills
- 175.4K Life & Family
- 253.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 15.1K Coronavirus Support Boards