Lump Sum Payment

[Will Gilberson]

I own 60% of Ltd company and company is going to buy back my shares on retirement(has all been agreed with our advisors)
I am also full time director
As part of planning, can company also pay me a Tax Free Termination Lump Sum
(€10,160 plus €765 for each complete year of service)
I am director and get a paye salary and don't know if fact I am a director precludes me from getting tax free lump sum termination payment?

 

[Steven Barrett]

I'm sure some of the tax advisors on here can confirm but I am almost sure you can. My dad owned his own company and he got a redundancy payment when he sold his company on retirement.