The Finance Bill introduces a number of measures in relation to the tax treatment of termination payments.
Employers will be liable to pay national insurance contributions (NICs) on termination payments above £30,000 that are already subject to income tax.
Other changes include making all payments in lieu of notice taxable and subject to Class 1 NICs (removing the distinction between contractual and non-contractual notice payments) and removing the exemptions in relation to foreign service relief and injury or disability payments.
A mature HR professional with over thirty years experience within the HR function both from a strategic and operational perspective, with over 18 years in senior management roles including those at…
