Increased Exemption Limit on Redundancy Payment

F

firsttimebuy

Registered User
Messages
129
I am about to be made redundant in 2 weeks time and I applied to the tax office to increase my tax exemption limit by €10,000 as I will not be cashing in my pension otherwise I am going to be taxed on a portion of my payment. Now the company are telling me that it is not their policy do this even though they have received a letter from the revenue advising them my limit has been increased by €10,000. They said they will take the tax off me but I will have to apply to the revenue to get it back. Does anyone have any advice?
 
My husband was made redundant last year and once the Revenue had confirmed to his then employer that the increased exemption was allowable, they deducted the E10,000 from the total amount and he paid tax on the balance only.

Also check Revenue's website - search for top slicing relief, which you may also be entitled to. It can, however, only be claimed at the end of the tax year.
 
You must log in or register to reply here.
Menu
Log in
Register