Hi, i am looking for some assistance/guidance.
In 2013 i received approx 23k from my previous employer as part of a Voluntary Redundancy scheme (2 weeks statutory + 2 weeks from employer), i was fortunate enough to secure a new role with another company soon after however the company has been restructured & have offered Voluntary redundancy to which i have yet to decide whether to take or not (role & area covered are changing making it prohibitive to carry out the role long term)
My current employer are offering 2 weeks statutory + 4 weeks from employer which will amount to approx 14.5k ( i am earning 38k pa)
My main query is what is the tax treatment of this amount ( i received my previous redundancy payment tax free) as i have read a number of pieces which state they are taxable however i dont know what element of the payment i would have to pay tax on & whether any of this can be paid tax free or claimed back?
Thanks in advance
In 2013 i received approx 23k from my previous employer as part of a Voluntary Redundancy scheme (2 weeks statutory + 2 weeks from employer), i was fortunate enough to secure a new role with another company soon after however the company has been restructured & have offered Voluntary redundancy to which i have yet to decide whether to take or not (role & area covered are changing making it prohibitive to carry out the role long term)
My current employer are offering 2 weeks statutory + 4 weeks from employer which will amount to approx 14.5k ( i am earning 38k pa)
My main query is what is the tax treatment of this amount ( i received my previous redundancy payment tax free) as i have read a number of pieces which state they are taxable however i dont know what element of the payment i would have to pay tax on & whether any of this can be paid tax free or claimed back?
Thanks in advance