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Sarah King Employment Solicitor

Tag: termination payments

Tax treatment of termination payments

Tax treatment of termination payments termination payments

Following my Tweet on the day of the Budget from April 2018, termination payments that are subject to income tax on amounts in excess of £30,000 will be subject to employer national insurance contributions. The £30,000 exemption will remain and that the whole termination payment will be outside the scope of employee NICs. In addition, […]