Changes planned for the taxation of termination payments
Employers who use the £30,000 tax exemption on termination payments are invited to consult on the proposed reforms.
The government has analysed the responses to its consultation on termination payments held in summer 2015 and would now like to hear views from anyone who is affected by or interested in these proposals including employers.
Full details about the Simplification of the Tax and National Insurance Treatment of Termination Payments consultation and how you can take part are available on the Government Consultation page.
The deadline for responses is 5 October 2016.
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If you would like to discuss any aspect of this article further or if you have any questions relating to termination payments, please contact Alacoque Marvin on 0113 244 6100. You can also keep up to date by following Wrigleys Solicitors on LinkedIn. The information in this article is necessarily of a general nature. Specific advice should be sought for specific situations. If you have any queries or need any legal advice please feel free to contact Wrigleys Solicitors |
August 2016
