Tax on termination payments - substantial reduction in exemptions proposed

30 Jul 2015
employment

Deciding on the tax treatment of employees’ termination payments is notoriously difficult. Often, employers end up deducting either too little or too much tax. The Government has just launched a consultation seeking views on its proposals to simplify the law in this area.

Welcome news, you might think. But it seems the price to pay for simplification may be a substantial reduction, or in some cases a withdrawal, of the existing tax and Nati...

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