reemployment

QuarryRoad

I was made redundant from my full-time job just over 6 months ago.  Now a different part of my employer is asking if I will go back.  I am happy to (but part time only, as I am enjoying 'retirement'!).  Are there tax implication on me?

Mark_d

No there shouldn't be.  Your termination payment is tax free but your taxable income is taxed based on your actual/estimated taxable earnings for the tax year

New_in_the_fens

You should check your redundancy paperwork to see whether you can be rehired by the company in the timeframe you have. When I was made redundant, I could not rejoin the employer for two years without returning my redundancy payment. 

Brie

I agree with New_in_the_fens.  Do check the redundancy T&Cs.

Where I was working it was 12 months before being able to be rehired and keeping all the cash.  But there was also a graduated amount before that so that at 6 months 50% would need to be repaid.  If this was the situation then there could possibly be a tax implication if your redundancy payment was very high.  

Then again - if they want you back then this is a point you might negotiate.  Same employer as above realised 2 months after someone left that they were essential for a specific project and she got them to agree that nothing needed to be repaid.  Granted that project was for a limited time period.