Redundancy Double Whammy

admin — Fri, 22 Jan 2010 21:55:18 +0000

If you’re unlucky/lucky enough to be facing redundancy soon, with a big severance payment, you might well be expecting your money on 31 March? It seems to be a popular date.

Take great care in advance if you’ve got any tax planning in mind: The last day of the tax year is 1 April this year (because of the Easter bank holidays).

This could make a huge difference if you’re facing 40% tax on severance pay. It’s quite easy to do that because your redundancy sits on top of a whole year’s income, especially if you don’t expect to pay 40% tax in the new tax year.

The Financial Services Authority does not regulate Tax advice

So what?
Plan carefully. Take advice if you need it.

Tax or Money?

admin — Mon, 11 May 2009 09:22:40 +0000

It seems to be that simple for Mr H, an imminent recipient of a Decent-Sized Redundancy Cheque. He wants to keep the tax burden down, and needs an income. Fair enough, but where to draw the line???

That’s what I’m working out for him.

I’d better go and do it, then!

The state of the nation.» redundancy

Redundancy Double Whammy

Tax or Money?