Hello all
just a quick question on BIK and its inclusion in calculating statutory redundancy. Have been paying tax on BIK for a company car since the tax was introduced. Recently redundant but employer will not include BIK in calculation for statutory amount. I think this is incorrect
The Redundancy Payments Acts 1967-2007
The Redundancy Payments Acts place an obligation on employers to pay a "statutory redundancy entitlement" to redundant employees. The amount to be paid will depend on the employee’s length of service and normal weekly earnings (gross weekly wage + average regular overtime + payment-in-kind up to a maximum weekly wage of €600 per week).
Have to accept the offer and sign a disclaimer early next week (employer is paying above statutory). I dont want to risk the additional money, but I also need every cent that I am entitled to.
Any advise on my position??
just a quick question on BIK and its inclusion in calculating statutory redundancy. Have been paying tax on BIK for a company car since the tax was introduced. Recently redundant but employer will not include BIK in calculation for statutory amount. I think this is incorrect
The Redundancy Payments Acts 1967-2007
The Redundancy Payments Acts place an obligation on employers to pay a "statutory redundancy entitlement" to redundant employees. The amount to be paid will depend on the employee’s length of service and normal weekly earnings (gross weekly wage + average regular overtime + payment-in-kind up to a maximum weekly wage of €600 per week).
Have to accept the offer and sign a disclaimer early next week (employer is paying above statutory). I dont want to risk the additional money, but I also need every cent that I am entitled to.
Any advise on my position??