Holiday pay has been taxed after redundancy?

Chapman1290
Chapman1290 Posts: 8 Forumite
in Redundancy & redundancy planning
Hi everyone

I was made redundant on 5th October this year, i'm just about to get my redundancy pay finally. But on the calculations of how much i am going to get for the holiday pay i am owed, it says:

We have made a payment to you for 10.75 Holiday days owed to you.
Then obviously says the amount owed, then minus tax and national insurance...

Is this correct?

I'm also claiming Universal Credit at the moment which i am told the total cost of what i receive in Universal Credit, will be deducted from my Staturtory pay.. is this also correct?

Regards Chris

Comments

  • tizerbelle
    tizerbelle Posts: 1,825 Forumite
    Name Dropper Combo Breaker First Post First Anniversary
    Holiday pay - yes. Only the actual redundancy payment is non-taxable (up to £30k) anything else is taxable as normal.
    Can't comment on the UC part.
  • oscarward
    oscarward Posts: 897 Forumite
    First Anniversary Name Dropper First Post Car Insurance Carver!
    True, I accepted VR in June. The Pilot and holiday pay was subject to tax but the redundancy and enhancement was tax free.

    But you can recover tax at year end
  • Dazed_and_confused
    Dazed_and_confused Posts: 6,458 Forumite
    Uniform Washer
    But you can recover tax at year end

    Or the tax deducted from it might be correct.

    Or you might owe additional tax.

    Impossible to know with the information provided and the fact there is several months to go in the tax year the payment is being made in.
  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Name Dropper First Anniversary First Post I've helped Parliament
    Who is paying the statutory redundancy?
  • Chapman1290
    Chapman1290 Posts: 8 Forumite
    getmore4less wrote: »
    Who is paying the statutory redundancy?

    Coming out of the National Insurance Fund..
    The company i worked for, the owner put the company into liquidation...
  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Name Dropper First Anniversary First Post I've helped Parliament
    Then you can't double dip, some benefits and JSA reduce the redundancy payout.

    Make sure you claim the contributions JSA(however that is done with UC) they will deduct that as well
  • CKhalvashi
    CKhalvashi Posts: 12,060 Forumite
    First Anniversary First Post Photogenic Name Dropper
    PRT81 wrote: »
    Hi there, I'm an officer in the redundancy payments service.

    You don’t have permission to post here.

    Please ask your employer to contact MSE if you would like to be able to post here’s in an official capacity.
    💙💛 💔
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