Estimated tax on redundancy payment - are my calculations correct?

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Hi All,
If you were to receive an 80k redundancy payment in the new tax year - how much tax would you be expected to pay? This is what I have calculated, does this look correct?
If you were to receive an 80k redundancy payment in the new tax year - how much tax would you be expected to pay? This is what I have calculated, does this look correct?
- 80k - 30k (tax free allowance) = 50k
- first £12,571 = is tax free
- 12,571 - 50k = 37429 (this is taxed at 20%)
- 20% of 37429 = £7485.8
Can I also just check that if you receive regular payments for being on call and it is in your contract then these payments will be included in any redundancy pay calculation?
Thanks
Thanks
0
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Just follow the rules.
https://www.gov.uk/government/publications/income-tax-claiming-tax-back-when-you-have-stopped-working-p50