severance pay

[bartyarmy]

Hi I am at risk to be made redundant which really means It is me .will the twevle weeks severance pay be taxable if I finish at the end of November and this period starts there .the package with rudundacy below �10.000. help please as iI have a meeting with them tomorrow
cheers

[factor-fiction]

If it's voluntary redundancy then it's taxable. if it's compulsory redundancy then first �30000 is tax free. Not sure though whether pay in lieu of notice is taxable if that's what you are referirng to- check the HMRC site.

[CheekyChops]

I took voluntary redundancy and wasn't taxed on it at all but my pay in lieu of notice was taxable.

[bartyarmy]

many thanks to you for answering this cheers

[factor-fiction]

I got that wrong. First �30000 is tax free whether it's voluntary or compulsory redundancy.