pow
Premium Member
Registered: 11th Sep 06
Location: Hazlemere, Buckinghamshire
User status: Offline
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Is that a tax free allowance or just on amounts under 35k?
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Ojc
Member
Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
User status: Offline
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Redundancy is tax free.
12 years and achieved redundacy yes I am pleased it's been a good job for that time i was off for 6 months last year full pay, I had my operation done privately thanks to Axa cover I've got a small pension from it and now I'm walking away with a few quid in my pocket.
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John
Member
Registered: 30th Jun 03
User status: Offline
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quote:
Originally posted by DaveyLC
Check your contract before you get too excited.
quote:
Originally posted by John
Do you not feel a bit bad that all you managed to achieve in 12 years within one company was redundancy?
Thats what happens to most people, companies evolve and there isnt space for everyone.. I've worked where I am for 10 years and I have no doubt that it will end in redundancy.
If the company evolves that's even worse, it means that other people have evolved with the company and you've sat there doing nothing.
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Half Pint
Member
Registered: 25th Mar 02
User status: Offline
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quote:
Originally posted by pow
Is that a tax free allowance or just on amounts under 35k?
looked on the interweb...
Payment Do I pay tax? Do I pay National Insurance?
Redundancy payment Only on the amount
above £30,000 No
Unpaid wages Yes Yes
Bonus payment Yes Yes
Occupational pension Yes No
amounts above £30k get taxed at your highest rate...
FUCKERS!
[Edited on 08-03-2011 by Half Pint]
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Paul_J
Member
Registered: 6th Jun 02
Location: London
User status: Offline
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You can't sniff at £20k tax free dropping on your lap.
Just don't go blow it all on drugs and raves.
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pow
Premium Member
Registered: 11th Sep 06
Location: Hazlemere, Buckinghamshire
User status: Offline
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Lol Paul this is Oliver James Crowe we are talking about  
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Ojc
Member
Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
User status: Offline
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I'm keeping hold of it for as long as possible.
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Whittie
Member
Registered: 11th Aug 06
Location: North Wales Drives: BMW, Corsa & Fiat
User status: Offline
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You could probably cover yourself head to do in tattoo's for the amount.
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Conway563
Member
Registered: 7th Jun 06
Location: Yate, Bristol
User status: Offline
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quote:
Originally posted by Ojc
I'm keeping hold of it for as long as possible.
When's the new car coming then?
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whitter45
Member
Registered: 15th Nov 02
Location: Norton
User status: Offline
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quote:
Originally posted by James
Is £20k pre-tax? Assuming 40% tax, that leaves you with £12k. Hardly seems waiting 12 years for?
part of it will tax exempt
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whitter45
Member
Registered: 15th Nov 02
Location: Norton
User status: Offline
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quote:
Originally posted by Ojc
Redundancy is tax free.
12 years and achieved redundacy yes I am pleased it's been a good job for that time i was off for 6 months last year full pay, I had my operation done privately thanks to Axa cover I've got a small pension from it and now I'm walking away with a few quid in my pocket.
its not tax free
Statuary reduncy is but depending on the part sof reducncy te compnay offers its taxable
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Fro
Member
Registered: 20th Jun 06
Location: Rainham, Essex Drives: A3 2.0TDi Sport
User status: Offline
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quote:
Originally posted by John
quote:
Originally posted by DaveyLC
Check your contract before you get too excited.
quote:
Originally posted by John
Do you not feel a bit bad that all you managed to achieve in 12 years within one company was redundancy?
Thats what happens to most people, companies evolve and there isnt space for everyone.. I've worked where I am for 10 years and I have no doubt that it will end in redundancy.
If the company evolves that's even worse, it means that other people have evolved with the company and you've sat there doing nothing.
I thought it could only be redundancy if the role is being removed.
if that happens what is someone supposed to do? People in our Greenwich office got made redundant but was nothing to do with them not evolving with the company/being shit at their job it was down to the company trying to save more money by piling more work on us and closing that office entirely.
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whitter45
Member
Registered: 15th Nov 02
Location: Norton
User status: Offline
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statuary up to 30k is tax free
Any other benefits the compnay wish to pay you other staturay are taxable
Fundamentally if you have worked continuously for an employer for two years then you will be entitled to redundancy pay. The level of this redundancy pay will depend upon you years of employment and your age. However, statutory redundancy pay isn't a great deal of money.
For those years worked when the employee was under 22 they are paid 0.5 weeks pay for each year they worked at the firm. For years worked between he ages of 22 and 41 they are paid 1.0 weeks pay for each year and for years worked over the age of 41 and more it is 1.5 weeks pay for each year of service. It should also be noted that the maximum weeks pay you can receive (before tax) is £330.
Calculate the redundancy pay you are due.
Some companies will elect to pay a more generous redundancy package to reward you for your time at the company and perhaps as a way of maintaining moral at the firm, however they are not obliged to do this.
It should also be noted that redundancy pay is tax free up to the amount of £30,000. Anything after £30,000 is tax at the highest tax rate you face
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Russ
Member
Registered: 14th Mar 04
Location: Armchair
User status: Offline
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quote:
Originally posted by Robbo
Only people who are shit at their job get made redundant
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whitter45
Member
Registered: 15th Nov 02
Location: Norton
User status: Offline
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quote:
Originally posted by Russ
quote:
Originally posted by Robbo
Only people who are shit at their job get made redundant
disagree completely - people can be made redundant because people who make that decision are not that informed about what that person does in their role
Seen this many of times in our place
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John
Member
Registered: 30th Jun 03
User status: Offline
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quote:
Originally posted by fro-dizzle
quote:
Originally posted by John
quote:
Originally posted by DaveyLC
Check your contract before you get too excited.
quote:
Originally posted by John
Do you not feel a bit bad that all you managed to achieve in 12 years within one company was redundancy?
Thats what happens to most people, companies evolve and there isnt space for everyone.. I've worked where I am for 10 years and I have no doubt that it will end in redundancy.
If the company evolves that's even worse, it means that other people have evolved with the company and you've sat there doing nothing.
I thought it could only be redundancy if the role is being removed.
if that happens what is someone supposed to do? People in our Greenwich office got made redundant but was nothing to do with them not evolving with the company/being shit at their job it was down to the company trying to save more money by piling more work on us and closing that office entirely.
I wasn't talking about being made redundant, I was talking about that being your only achievement.
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Nath
Member
Registered: 3rd Apr 02
Location: MK
User status: Offline
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quote:
Originally posted by Russ
quote:
Originally posted by Robbo
Only people who are shit at their job get made redundant
Uh oh
[Edited on 08-03-2011 by Nath]
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Russ
Member
Registered: 14th Mar 04
Location: Armchair
User status: Offline
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quote:
Originally posted by whitter45
quote:
Originally posted by Russ
quote:
Originally posted by Robbo
Only people who are shit at their job get made redundant
disagree completely - people can be made redundant because people who make that decision are not that informed about what that person does in their role
Seen this many of times in our place
i disagree too mate, i was just saying what Robbo told me to say
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Ojc
Member
Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
User status: Offline
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There are like 30 people in our office who can now apply for 8 of the jobs or you can just fuck off now, I elected to tell them I would go now, where do I sign? the rest of the women who work part time and do fuck all were crying when reality hit home that they are now FUCKED.
I actually feel sorry for them as they really will find it stupidly difficult to find something else now, I am genuinely worried for them 
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Russ
Member
Registered: 14th Mar 04
Location: Armchair
User status: Offline
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you made the mistake of growing to close to them OJC, anynbody in my office could drop down dead and i wouldnt shed a tear, except for Liz, but only 2 tears
[Edited on 08-03-2011 by Russ]
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Ojc
Member
Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
User status: Offline
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They aren't a bad bunch when all is said and done even if they do harp on about their kids all day.
They look after me through my illness, I just smirk at the fact I knew this was coming and they were all in denial about it.
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Russ
Member
Registered: 14th Mar 04
Location: Armchair
User status: Offline
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I work with snakes. One especially, she looks like the fucking worm outa dune
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AndyKent
Member
Registered: 3rd Sep 05
User status: Offline
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quote:
Originally posted by Russ
I work with snakes. One especially, she looks like the fucking worm outa dune
I'd love to work in a zoo as well 
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Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
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quote:
Originally posted by Russ
quote:
Originally posted by Robbo
Only people who are shit at their job get made redundant
harsh
some blokes in work got made redundant at the height of the recession. they did nothing wrong, never had a day off sick and always turned up on time and did everything right.
20k is nice but i kind of think that it won't last that long. it's good if you have a job to go staight into like you have, but people who don't would struggle to make that money last i think.
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James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
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quote:
Originally posted by Robbo
Only people who are shit at their job get made redundant
I kind of see where Robbo is coming from.
While being shit at your job usually isn't a cause for redunancy alone. If a company decides to make redundancies for whatever the reason might be, they will start at the bottom in terms of ability.
For example if you have a team of 10 people and for money saving reasons, you are forced to make 5 of them redundant, obviously you are going to make the worst 5 people redundant. Now their ability wasn't the thing that triggered the redundancies, but it inevitably led to their redundancy.
Comprendez?
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