anniewalker74 Fidler
Joined: 12/6/2024
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Redundancy severance payment and tax
I am being made redundant at the end of April. I will receive a generous company severance payment. I know £30k of this is tax free but as I do not plan to work within the next financial year how does the tax allowance work. Trying to determine if best to put money into work pension scheme or bank account depending on what I will be taxed. Thanks for any advice -
Renting out home to travel - tax implications
My husband and I own our home outright. We are looking to rent it out to travel overseas for a year or more. We will not work whilst we travel, except for some voluntary opportunities. Will we pay tax on the rental income as this will be our only source of income? Thank you