Adjusted Net Income - Impact from redundancy payment

GDHK

Dec Year to date employment income is £80k.

I am receiving £45k redundancy/ex gratia payment in January.

I understand £30k of that will be tax free, but for the purposes of Adjusted Net Income and consideration of the 60% marginal tax rate:-

Will my Self Assessment show my Adjusted Net Income as (£80k+£45k) = £125k - meaning I lose my personal allowance
Or will it show (£80K+£45k but remove £30k tax free element) = £95k

HMRC website is vague on this guidance. 'Adjusted net income is total taxable income before any Personal Allowances and less certain tax reliefs' - if the £30k tax free redundancy payment is not taxable then should it be included or not!?

Thanks

FIREDreamer

When i was made redundant in 2007, the £30k tax free element of my payout did not show on my P45 so yours should show £95k.