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Tax on Redundancy Payment

Answer
Whol Petg
Posted Mon, 30 Sep 2024 21:41:34 GMT by Whol Petg
Hi Could you please give me an idea how to calculate tax on income tax with redundancy payment. My monthly salary is 2500, I worked 5 months in this company for tax year 2024/25. It is using PAYE. And I got redundancy payment 40000. For the fifth month, the tax on income is ? (10000 + 2500 - 1047.5) *20% = 2290.5 Thanks
Answer
HMRC Admin 17 Response
Posted Wed, 09 Oct 2024 09:16:36 GMT by HMRC Admin 17 Response

Hi ,
 
Please refer to :

HMRC tools and calculators    .


Thank you .

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