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Leaving job, tax implications

b90t
Posts: 1 Newbie
I am leaving my job as part of a VR agreement at the end of April and am unsure what to do about disclosure vs what my employer will do
At the end of this month I will receive a seperate bonus but one month after leaving I’ll receive a payment of x month notice + redundancy payment and I understand that redundancy payment to be tax free if under £30k which it easily is.
At the end of this month I will receive a seperate bonus but one month after leaving I’ll receive a payment of x month notice + redundancy payment and I understand that redundancy payment to be tax free if under £30k which it easily is.
I want to disclose the correct info and pay the correct tax. I’ve listed some assumptions below
1) on March payday where I receive my bonus or a few weeks before, update my 2025 earnings to add the bonus amount on top of my salary
2) in April (before I leave) update my earnings for 2026 with the expected 1 month of pay + the notice payment (do I include the tax free redundancy payment in the total and will HMRC be told what it is by my employer?)
1) on March payday where I receive my bonus or a few weeks before, update my 2025 earnings to add the bonus amount on top of my salary
2) in April (before I leave) update my earnings for 2026 with the expected 1 month of pay + the notice payment (do I include the tax free redundancy payment in the total and will HMRC be told what it is by my employer?)
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Comments
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it should all be on PAYE as normal so I don't think there's anything for you to report.I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe, Old Style Money Saving and Pensions boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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Your employer will automatically report the data to the HMRC. There's nothing for you to do.
Your personal tax liability for 25/26 will depend on what you earn in the period.0 -
Unless you earn over £100k you don't need to do anything. Paye does it all0
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