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Tax on tribunal payout
thommo
Posts: 183
Forumite
I wonder if anyone could help me. I was made redundant after 33 years service two years ago and have since won an employment tribunal against my former employer on the grounds of unfair dismissal and disability discrimination.
I originally used up the tax free amount of 30k when I was paid my redundancy and now I have a remedy hearing at the end of next week. As I understand it the 30k allowance isn't set to a particular tax year so any award I get will be taxable.
My question is will the award be added to my earnings from 2020/21 or will it be taxable in the present tax year.
I originally used up the tax free amount of 30k when I was paid my redundancy and now I have a remedy hearing at the end of next week. As I understand it the 30k allowance isn't set to a particular tax year so any award I get will be taxable.
My question is will the award be added to my earnings from 2020/21 or will it be taxable in the present tax year.
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what was the outcome of this?
Don't trust a forum for advice. Get proper paid advice. Any advice given should always be checked0
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