Redundancy

ToxicPaddy

Im being made redundant in work and even though I'm only there a year they are giving me a fairly decent package so I'm not going to complain and everything has been upfront and very professional..

Someone told me that if you've been made redundant from a previous company within a certain period of time you're entitled to higher tax free credits over a period of time from the revenue.. is this true???

Tox

leeroybrown

Hava a look here. There should be links to the relevant taxation information in there.

Sleipnir

I remember when I was made redundant. Best 6 months of my recent life.

I wish I was made redundant every 3 years....

ToxicPaddy

leeroybrown wrote:

Hava a look here. There should be links to the relevant taxation information in there.

yeah I was looking there already but doesnt say anything about additional tax credits you may be entitled to, sorry should have said in my original post.

leeroybrown

ToxicPaddy wrote:

yeah I was looking there already but doesnt say anything about additional tax credits you may be entitled to, sorry should have said in my original post.

I havn't heard of any additional credit being applied. I always thought that the tax benefit was in the form of reduced taxation of the lump sum.

Dampsquid

ToxicPaddy wrote:

Im being made redundant in work and even though I'm only there a year they are giving me a fairly decent package so I'm not going to complain and everything has been upfront and very professional..

Someone told me that if you've been made redundant from a previous company within a certain period of time you're entitled to higher tax free credits over a period of time from the revenue.. is this true???

Tox

Yeah it's probably because you aren't working for a while, your tax credits build up. so when you do start working, you pay less tax for a while

ToxicPaddy

Ahh righty..

That must be it so. Just asking because one of my colleagues here mentioned something about it a while back but he didnt know the details and I've been checking on oasis.gov and the usual sites but cant find anything.

Cheers guys.

Tox