New redundancy tax rules
Posted on 01 Sep 2016
New redundancy tax rules
The Mail reports that from 2018 workers who receive extra cash for redundancy in the form of payment in lieu of notice will have to pay income tax and national insurance on this award. Currently, employees receiving under £30,000 do not have to pay. The paper says the new rules were buried in the Autumn Statement last month.
Source: Daily Mail (07/12/2016)
