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Posted Tue, 24 Oct 2023 00:25:55 GMT by
Would the tax on my £100,000 redundancy pay be different if receive my redundancy money before or after the tax year?
Posted Thu, 26 Oct 2023 16:00:12 GMT by HMRC Admin 5 Response
Hi

The redundancy payment is taxable in the tax year in which the payment arises.  Wew cannot comment on how this will affect your tax liability in a tax year.

Thank you
 
Posted Tue, 21 Nov 2023 10:20:24 GMT by
The first 30k is tax free regardless. But rest above this is taxed accounting for other earnings also. If you wanted to shelter some you could put it into a pension fund but won't be able to access it unless your over 55 of course.

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