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reducing tax liability on severence pay
weatherman_3
Posts: 2 Newbie
in Cutting tax
Hi,
hope someone can help me with this problem.
i will be due severence pay of approx £100,000 payable in may next year.
i have 8 weeks holidays stacked up which i will take immediatly before my severence is paid to me.
i own a property in italy.
will it reduce my tax payable if in march i move to italy and set up perm residance there. will this get me out of the 40% bracket if i declare my income as overseas income to the italian tax system.
thanks in advance to a very confused old man.
hope someone can help me with this problem.
i will be due severence pay of approx £100,000 payable in may next year.
i have 8 weeks holidays stacked up which i will take immediatly before my severence is paid to me.
i own a property in italy.
will it reduce my tax payable if in march i move to italy and set up perm residance there. will this get me out of the 40% bracket if i declare my income as overseas income to the italian tax system.
thanks in advance to a very confused old man.
0
Comments
-
The short answer is no. The payment will be taxable by the UK.0
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