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HR saying I can't Salary Sacrifice Accrued Holiday (Redundancy)

MaidaVale3499 · 2024-02-12 14:20:50

(Previously Posted in error in Redundancy thread) I'm in the finalisation stages of a redundancy which has a number of monetary components eg the redundancy payment (under tax free £30k), PILON and accrued holiday. (Throughout my 12 year employment I had taken up the opportunity to use the fabulous employee benefit of…

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paulus Posts: 74 Forumite

24 July 2024 at 10:01AM

Apologies for the late response, but please be aware that the sacrificing of PILON may not actually reduce the tax. The legislation now sets out a formula for taxing "Post Employment Notice Pay". This would typically mean that PAYE and NIC still has to be calculated on PILON, even when it's not actually received. It's apparently all part of tax simplification.

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HR saying I can't Salary Sacrifice Accrued Holiday (Redundancy)

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