Redundant for second time in less than 10years: Will lumpsum be taxed?

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apd

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Hi,

Can anyone advise on the taxation of redundancy payments. If having been made redundant a few years ago after having worked with the company for 2 years, and given a lump sum of about 10K. And now being made redundant after a number of years with a new company, will the second lump sum be fully taxed.

I have heard that a tax free lump sum if only available once every 10 years.

Thanks
 
There are three parts to a taxfree lump sum

Basic exemption i think it is 10,160 ( check on revenue site)
Annual about 800 per each complete year of service (check on revenue web)
An additional 10,000 this is only available once every ten years the other parts are available as often as you are made redundant.

Note also that Statutory redundancy of 2 weeks for each complete year (subject to a ceiling for weekly pay) is also tax free.
 
I received redundancy six years ago and was entitled to some of that €10,000 relief thats available once every ten years. There is a possibility that my wife will receive redundancy in the near future. Will she be able to claim that additional relief, or will my redundancy six years ago affect her payment now.
 
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