I am leaving my current job on fairly generous severance terms. My final day is 31st March but, with annual leave to take, I will be leaving on 5th March 2007 to move abroad on a permanent basis.
Apart from the first £30,000.00 my severance payment will be taxed at the higher 40% rate. I've been told that, because I will be emigrating permanently before the end of this tax year, I may be able to reclaim some or all of the tax paid on my severance payment - which would be very helpful to me in establishing my new overseas business. I would be very grateful if someone could clarify whether this is true and, if so, how might I go about it.
All replies gratefully received
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