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Tax and redundancy
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Hi
I have just been told that after the consultation period my job is to be made redundant, the company (I have been here 18 months) has offered me a reasonable payout with my notice period of 2 months tax free. The agreement document states the Tax act 2003 (s403) as justification for not tax deduction but it then goes on to say that the company has no tax liability should HM revenue decide to the contrary. This is very worrying – can anyone confirm that tax is not paid or what their experience has been in similar circumstances?
Thank you very much in advance.
Jo
I have just been told that after the consultation period my job is to be made redundant, the company (I have been here 18 months) has offered me a reasonable payout with my notice period of 2 months tax free. The agreement document states the Tax act 2003 (s403) as justification for not tax deduction but it then goes on to say that the company has no tax liability should HM revenue decide to the contrary. This is very worrying – can anyone confirm that tax is not paid or what their experience has been in similar circumstances?
Thank you very much in advance.
Jo
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This is the third time I have seen thsi question. I've responded to two. It can be very disjointed and you get incomplete threads if some people post in one but not the others.
If you want everything in one thread you might be better effectively closing two down by redirecting posters to the one you wish to be the main thread.
If you want everything in one thread you might be better effectively closing two down by redirecting posters to the one you wish to be the main thread.
Only 1 answer
