Termination Payments

by Aspiring Training on February 10, 2017 No comments

From April 2018 termination payments over £30,000, which are subject to Income Tax, will also be subject to employer’s National Insurance Contributions.

Tax will only be applied to the equivalent of an employee’s basic pay if their notice is not worked. The first £30,000 of a genuine termination payment will remain exempt from tax and National Insurance Contributions.

Aspiring TrainingTermination Payments

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