Hi All - grateful for any advice.
Is voluntary severance payment the same as an ex-gratia payment?
An ex employee was paid £44,000 as termination payment. This was made up of :
- £9000 Statutory redundancy
- £8000 PILON (non-contractual)
- £27000 Voluntary Severance (calculated 3X of statutory redundancy as per organisation policy)
What's taxable?
Thanks
AR
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