If you’re made redundant, you may get a ‘termination payment’. This could include:
See Also
Redundancy payments: Tax minimisation - Money To The MassesAre redundancy payments taxable?P60 Explained | Guide & FAQ For Employers & EmployeesCheck how much redundancy pay you can get- statutory redundancy pay
- holiday pay
- unpaid wages
- company benefits, for example bonuses
Statutory redundancy pay under £30,000 is not taxable.
What you’ll pay tax and National Insurance on depends on what’s included in your termination payment.
