Ready, steady… save!
You don’t need a chart to join in. Here are 2 ways to record your savings:
1. Cross it off
Pop a chart into your first post. Saved an amount? Cross it out! Read more »
£0.01 £0.02 £0.03
2. Write it down
Skip the chart and add updates to your first post. Read more »
“Another +£3 saved today. Go me!”
Use +£ before each new saving so it counts towards your total.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Redundancy payment on tax return
Equaliser12345
Posts: 91
Forumite
Hi. Wonder if anyone can help. Just put this on the tax forum but wonder if this is more appropriate.
i received a redundancy payment in 23/24 tax year. My P45 shows this amount together with the tax I paid on it.
£30k of the sum was tax free. I have already paid tax on the remaining amount via PAYE .
Can anyone confirm how I deal with this on my tax return? I am assuming that I put the full amount (I.e. salary and redundancy) in the employment box. But do I ALSO put it under lump sum received?
Or will that cause me to be taxed again??
i received a redundancy payment in 23/24 tax year. My P45 shows this amount together with the tax I paid on it.
£30k of the sum was tax free. I have already paid tax on the remaining amount via PAYE .
Can anyone confirm how I deal with this on my tax return? I am assuming that I put the full amount (I.e. salary and redundancy) in the employment box. But do I ALSO put it under lump sum received?
Or will that cause me to be taxed again??
Thanks!
0
Comments
-
The £30k is ignored on the self assessment0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.9K Banking & Borrowing
- 254.9K Reduce Debt & Boost Income
- 456.2K Spending & Discounts
- 248.4K Work, Benefits & Business
- 606.1K Mortgages, Homes & Bills
- 179K Life & Family
- 263.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.7K Read-Only Boards