New Posts For Thread: i just got made redundanthttps://community.betfair.com/chit_chat/go/thread/view/94038/31199161/i-just-got-made-redundantworked since 16 nearly 60 now wow???good website for pension information pensionwise.gov.uk well worth a look.https://community.betfair.com/chit_chat/go/thread/view/94038/31199161/i-just-got-made-redundant?post_id=554171067#554171067good website for pension information pensionwise.gov.uk well worth a look.Tue, 17 Apr 2018 17:03:44 -0500That sounds about right PG. I haven't personally come across that situation but as long as the £41.5k is paid on or after April 6th (relevant) then yes you could get taxed and would then claim a rebate of it all. If you are paid at the end of the mohttps://community.betfair.com/chit_chat/go/thread/view/94038/31199161/i-just-got-made-redundant?post_id=554156903#554156903That sounds about right PG. I haven't personally come across that situation but as long as the £41.5k is paid on or after April 6th (relevant) then yes you could get taxed and would then claim a rebate of it all. If you are paid at the end of the moMon, 16 Apr 2018 14:16:38 -0500Thanks aspro, i was thinking of the tax on the redundancy, doesnt redundancy count as earnings? So if you earn 24k a year and get a £41.5k payout (somehow)Redundant in march - youve used all your tax free on your wages that year so you get 30k tax fhttps://community.betfair.com/chit_chat/go/thread/view/94038/31199161/i-just-got-made-redundant?post_id=554156365#554156365Thanks aspro, i was thinking of the tax on the redundancy, doesnt redundancy count as earnings? So if you earn 24k a year and get a £41.5k payout (somehow)Redundant in march - youve used all your tax free on your wages that year so you get 30k tax fMon, 16 Apr 2018 12:50:32 -0500The DragonPlenty of more time to get those football tips right for once!!!Jokes aside, this guy is one of the best football analysts I've ever come across. His knowledge of the lower leagues, second to none. Enjoy a long and happy retirement.https://community.betfair.com/chit_chat/go/thread/view/94038/31199161/i-just-got-made-redundant?post_id=554154359#554154359The DragonPlenty of more time to get those football tips right for once!!!Jokes aside, this guy is one of the best football analysts I've ever come across. His knowledge of the lower leagues, second to none. Enjoy a long and happy retirement.Mon, 16 Apr 2018 09:07:53 -0500On the subject of signing on the dole, Jobseekers Allowance is a taxable benefit and is added to your annual income. Not sure what it is these days but if you sign on for a whole tax year you will not pay tax on it due to it being below the thresholdhttps://community.betfair.com/chit_chat/go/thread/view/94038/31199161/i-just-got-made-redundant?post_id=554153009#554153009On the subject of signing on the dole, Jobseekers Allowance is a taxable benefit and is added to your annual income. Not sure what it is these days but if you sign on for a whole tax year you will not pay tax on it due to it being below the thresholdMon, 16 Apr 2018 05:31:41 -0500Another way of putting this is with flexible income (usually commission). In the first month you may earn £3k. Your income to date is £3k and you are taxed on that less your monthly allowance.So in practise you earn £3,000, less monthly allowancehttps://community.betfair.com/chit_chat/go/thread/view/94038/31199161/i-just-got-made-redundant?post_id=554152989#554152989Another way of putting this is with flexible income (usually commission). In the first month you may earn £3k. Your income to date is £3k and you are taxed on that less your monthly allowance.So in practise you earn £3,000, less monthly allowanceMon, 16 Apr 2018 05:27:56 -0500heads up for anyone been made redundant through the firm going bust and claiming your redundancy pay,notice pay off the government, always sign on the dole if your entitled because the dhss will assume you've signed on anyway and subtract any dole,johttps://community.betfair.com/chit_chat/go/thread/view/94038/31199161/i-just-got-made-redundant?post_id=554152975#554152975heads up for anyone been made redundant through the firm going bust and claiming your redundancy pay,notice pay off the government, always sign on the dole if your entitled because the dhss will assume you've signed on anyway and subtract any dole,joMon, 16 Apr 2018 05:25:49 -0500It doesn't work like that PG; tax is based on average earnings to date each month (which is then annualised) and is more apparent on flexible incomes. Just because you've earned over your tax limit doesn't mean you've paid the right amount of tax, yohttps://community.betfair.com/chit_chat/go/thread/view/94038/31199161/i-just-got-made-redundant?post_id=554152909#554152909It doesn't work like that PG; tax is based on average earnings to date each month (which is then annualised) and is more apparent on flexible incomes. Just because you've earned over your tax limit doesn't mean you've paid the right amount of tax, yoMon, 16 Apr 2018 05:10:20 -0500Aspro, i have wondered about that before. I believe first 30k of redundancy is tax free. But if you get redundancy pay in February you have already used up your 12k tax free earnings for the year. If you get redundancy pay in April then you get anothhttps://community.betfair.com/chit_chat/go/thread/view/94038/31199161/i-just-got-made-redundant?post_id=554152287#554152287Aspro, i have wondered about that before. I believe first 30k of redundancy is tax free. But if you get redundancy pay in February you have already used up your 12k tax free earnings for the year. If you get redundancy pay in April then you get anothMon, 16 Apr 2018 01:29:27 -0500@ChavmanThat's statutory redundancy. Companies can choose to pay more and lots do.https://community.betfair.com/chit_chat/go/thread/view/94038/31199161/i-just-got-made-redundant?post_id=554150979#554150979@ChavmanThat's statutory redundancy. Companies can choose to pay more and lots do.Sun, 15 Apr 2018 18:23:09 -0500