Title : Taxation of termination payments

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Document type	Employment law update
ID	2018/00361
Title	Taxation of termination payments
Responsible team	Legal
Description	Significant changes came into force on 6 April 2018 which will affect tax on termination payments and the treatment of National Insurance Contributions [NICs]. The practice of non-contractual pay in lieu of notice clauses being tax free will be abolished. The £30,000 tax-free amount will remain for compensation payments such as redundancy pay and ex-gratia payments.
File size	473.5KB
Created on	28 February 2018
Last uploaded on	28 February 2018
Publication date	28 February 2018
File format	Word Document
Topics	Employment law Employment law
Collections	Briefing collection Briefing collection
Contributors (Prospect staff)	Linda Sohawon Linda Sohawon
Audiences	Members, Public (Title only), Prospect Staff

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