Episode 9: Will I have to Pay Tax on my Settlement Payment?
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In Episode 9 of The Settlement Agreement Solicitor, host Geoffrey Caesar, an experienced solicitor with over 20 years in employment law, answers one of the most common questions: Will I have to pay tax on my settlement payment? Geoffrey breaks down the UK tax rules for settlement agreements, explaining which payments are taxable and which may be tax-free under the £30,000 exemption. He clarifies the distinction between contractual payments, like unpaid salary and holiday pay, and non-contractual payments, such as redundancy and ex-gratia payments, that can potentially be tax-free.
In Episode 9 of The Settlement Agreement Solicitor, host Geoffrey Caesar, an experienced solicitor with over 20 years in employment law, answers one of the most common questions: Will I have to pay tax on my settlement payment? Geoffrey breaks down the UK tax rules for settlement agreements, explaining which payments are taxable and which may be tax-free under the £30,000 exemption. He clarifies the distinction between contractual payments, like unpaid salary and holiday pay, and non-contractual payments, such as redundancy and ex-gratia payments, that can potentially be tax-free.
Tune in to learn how to navigate these tax rules, avoid unexpected tax bills, and maximise your financial outcome. For tailored advice, Geoffrey offers practical guidance on understanding and negotiating your settlement agreement.
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