Redundancy Payments
Tax on Redundancy Payments
Redundancy payments are payments compensating an individual for the loss of their job. They can be made in cash or benefits in kind.
In this hub, we provide information on tax in relation to redundancy payments. The tax situation can often be very complex, so for guidance and advice we recommend speaking to a professional.
If you’ve been made redundant, we can check your tax calculations and help you get back any tax you have overpaid. We can also prepare your tax return, if it turns out you need one.
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Redundancy pay safeguarded for furloughed workers
From 31st July, employees who are furloughed and face losing their jobs will be eligible for a redundancy pay-off based on their normal wages – not their furlough salary.
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Redundancy payments are payments compensating an individual for the loss of their job.
Find out moreRead our expert answers to your Redundancy Payments questions
Redundancy Pay for a Company Director
I recently ceased my Limited Company business and made all of my employees redundant. As I was dealing with the day to day running of the company am I also entitled to redundancy pay?
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I have just been made redundant and my employer has offered me a redundancy package of almost £80,000. The managing director has told me that I will get £30,000 of this tax free and asked if I would l...
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I have just been told that I am being made redundant in a couple of months and that my redundancy package is going to be £50,000 and the gift of my company car. I am really worried about my finances,...
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