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Where Taxpayers and Advisers Meet

Settlement Agreement follow-on question please

anjo56
Posts:26
Joined:Wed Nov 29, 2017 8:27 pm
Settlement Agreement follow-on question please

Postby anjo56 » Wed Jul 15, 2020 1:46 pm

Hello again
Further to my post yesterday, my colleague has been offered the same deal as me but he has been told that the payment made would be FULLY taxable and not just the amount in excess of £30k. In my agreement the payment is described as "compensation for loss of employment" (Compensation Payment). In darthblingbling's reply yesteday they mentioned that the reply was assuming the payment is an ex-gratia one which is what I was told and that I am working my notice, which I am. I a bit confused now that my colleague is being given different information from HR than what I got. Thank you!

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