2nd time redundancy + tax

[finbar]

Being made redundant for the 2nd time, availed of the tax
breaks at the last redundancy 8 years ago.
question , will the statutary redundancy part be tax free this time.
I have a pernsion from current employer + pension from previous employer
didnt use the tax break on the pension on the last redundancy
can i claim a 10K tax break on both pensions ie 2 * 10K
Is there any other tax breaks i can use
Will i get any tax i pay on redundancy back next year if i dont/cant find work
Thanks

 

[daveyboy]

Finbar

sorry for your prediciment.

Statutory redundancy will always be tax free.
You need to check out the revenue leaflet regarding termination payments (thinks its it21?).
As i understand it, you will get statuory tax free, and the next 10k also tax free plus I think its 765 for each full years service tax free also.
After that you can claim an additional 10k if you have not claimed it in the last 10 years. I suspect on one pension only.
I'm not an accountant but if your payment will be over the basic tax free elements above, might be worth spendin an hour talking through the tax options with a qualified person? It'll probably save you money.

 

[finbar]

am i not barred from the 10,000 tax free + 762 per year
due to receiving redunancy 8 years ago + availing of the tax breaks back then

 

[daveyboy]

nop, you are good to go as i understand it

 

[donee]

i cant figure out wether your Unlucky to be made redundant twice, or LUCKY to get two redundancy cheques in 8 years