my company and i are parting company and i am being paid severance pay,what are the tax implications for this,i am on paye,i have heard it is tax free up to
30k,is this so,if not what can i do ?,many thx in advance,Bitstring , from the wonderful person BRAMSCAPE said
Normally yes, unless the company does something dumb in how it describes it to the IR.
If by severance you mean 'redundancy' then the first 30K is tax free.
Yes, provided there isn't anything in your contract of employment that says you are entitled to it.
Statutory redundancy pay is always tax free.
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