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Posted Tue, 06 Feb 2024 13:21:40 GMT by
I am due to take voluntary early leaver on 30th June Of the redundancy payment, £30k is treated as non uk relevant earnings and as such (i) not taxable in 24/25 and (ii) doesn’t count as earnings in relation to any potential pension contribution this year ( capped at £60k pa). I want to understand if any redundancy payment (over and above this £30k ) to be paid as “employer contributions” , are also treated as “non UK relevant earnings”? This is important because it will impact: 1) how much of the net redundancy ( after the £30k) is allocated as employer contributions / taken as redundancy – for danger of contributing more to the annual £60k allowance, than my UK relevant earnings in 24/25 2) how any future earnings in 24/25, (outside of BT) will be taxed.
Posted Thu, 08 Feb 2024 08:33:52 GMT by HMRC Admin 25 Response
Hi Simon roberts,
Further information is required on this to allow a definitive answer to be given.
Please contact our Self Assessment helpline for advise.
Self Assessment: general enquiries
Thank you. 
 

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