dantelo
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RE: How to cater for redundancy/end of termination tax free payout
Thanks, the examples there do not explain what to do when the totals are already included in the P45 and part of the Employment Income section. Should i deduct the tax free 30k from the total in that section and put it in the Lump sum section? -
How to cater for redundancy/end of termination tax free payout
Hi, My role was to be made redundant and I accepted a termination settlement in Nov 2023. I received my P45 after but not my P60 (have requested but no replies sadly). My P45 total pay to date number includes the settlement payment. And the tax code at leaving date says 75T. The P45 total tax to date already includes tax for the amount over 30k of the settlement, but not confident I am getting 30k tax free, as the calculation page shows I still owe tax for this employment. Including and not including 30k in the lump sums section have no effect on the calculation. When filling in the employment earnings should the total pay exclude the 30k? if so is it ok that this amount then no longer matches the one in the P45? Many thanks for any help.