interactive infographic - hr planner 2016
TRANSCRIPT
Trade Union laws
amended
National Living
Wage
To do…ShPL for
Grandparents
Apprenticeship
News
The removal of the distinctions between contractual and non-contractual payments with the intention that ALL payments made in connection with termination of an employment be classed as earnings and therefore subject to tax and NIC deductions.
An exemption may remain for payments in line with any statutory redundancy payments where an employee is being made redundant either voluntarily or compulsorily and would be set in line with a sliding scale based on an individual’s length of service. Where a termination occurs which is not due to redundancy, no exemption would be applied.
Where an individual has benefitted from a termination payment that has been exempt of tax and NIC deductions but is subsequently re-employed within a 12 month period, tax and NIC will then be payable on any previous tax free element.
