Leaving job - p45 and severance

dropstar

Hi all

I'm leaving my current job soon, and as it's my first job since leaving college, I'm wondering how it works regarding severance pay.

I will be due a week and a halfs wages plus 8 days pay in lieu of untaken holidays , but I'm not sure whether companies pay it prior to or on the date of departure or on the next payday.
Could anyone advise ?

Thanks a lot

Eoin

You'd need to ask them, but I'd expect it would be in the next pay run. I think they need to wait until then to issue the P45.

oB1

dropstar wrote: »

Hi all

I'm leaving my current job soon, and as it's my first job since leaving college, I'm wondering how it works regarding severance pay.

I will be due a week and a halfs wages plus 8 days pay in lieu of untaken holidays , but I'm not sure whether companies pay it prior to or on the date of departure or on the next payday.
Could anyone advise ?

Thanks a lot

Eoin wrote: »

You'd need to ask them, but I'd expect it would be in the next pay run. I think they need to wait until then to issue the P45.

+1 on what Eoin said there above:

Normally, when you leave a company in good standing, IE give plenty of notice etc. - your holiday pay, last working salary , and any additional payments along with your P45 are issued, on your final salary ( Usually same date as normal salary)

dropstar

RobertHopkins wrote: »

dropstar wrote: »

Hi all

I'm leaving my current job soon, and as it's my first job since leaving college, I'm wondering how it works regarding severance pay.

I will be due a week and a halfs wages plus 8 days pay in lieu of untaken holidays , but I'm not sure whether companies pay it prior to or on the date of departure or on the next payday.
Could anyone advise ?

Thanks a lot

Eoin wrote: »

You'd need to ask them, but I'd expect it would be in the next pay run. I think they need to wait until then to issue the P45.

+1 on what Eoin said there above:

Normally, when you leave a company in good standing, IE give plenty of notice etc. - your holiday pay, last working salary , and any additional payments along with your P45 are issued, on your final salary ( Usually same date as normal salary)

Thanks for that guys. If they only issue the P45 when I leave does that mean Ill pay emergency tax on whatever goes into my last paycheque ?

Eoin

I'd have thought that would be more a risk with your first paycheck in the new place, rather than the last one in your previous place.

allthedoyles

Don't expect much severence pay ......I presume they are paying you statutory redundancy .

Whether you pay emergency tax will depend on your tax circumstances

RangeR

No redundancy. OP is leaving. Only wondering about salary owed plus holidays accrued.

oB1

dropstar wrote: »

Thanks for that guys. If they only issue the P45 when I leave does that mean Ill pay emergency tax on whatever goes into my last paycheque ?

As what Eoin said there, id be pretty confident, Infact id comfortably bet money on it; you wont pay Emergency Tax in your last paycheck.

Emergency tax is only a factor, when your employer ( usually new ) doesn't know what tax band your on.

thesimpsons

dropstar wrote: »

Thanks for that guys. If they only issue the P45 when I leave does that mean Ill pay emergency tax on whatever goes into my last paycheque ?

you'll only get your P45 when all payments have been made to you so you won't get a P45 when you leave if there is still money outstanding. Emergency tax will only apply if that is the rate you are on when you leave.

Mr. Loverman

I used to pay the wages in a company I worked for.

Most likely you will receive your final pay whenever the next pay run is.

The P45 depends on who is doing your wage and what software they use. For example, I could input the person's final wage into the software I used and print the P45 immediately, even though they may not be receiving their final wage for a few weeks. So in theory if you were working where I worked I could give you your P45 on your final day but you would not receive your final pay until the next pay run.

But it is likely you will receive your P45 after you have been paid your final wage.

You will not pay emergency tax on your final wage.

Mrs OBumble

and just fyi, what you are getting is not severance pay: that is the money you would get if they were making your redundant, or paying you out to resign and leave quietly.

All you're getting is your final pay. And HR are the only people who can say for certain if you will get it on your last day or on their next payroll date.

areyawell

You will only get paid to what you handed in your notice for. So two weeks notice and you leave your job then you get two weeks pay nothing more. Holiday days depends on how long you are working there. If you are there 6 months you are entilted to half the days you have left. 9 months you are entitled to 3/4 of the days you have left. It works out at 8% of all the hours you worked during that period. Also you will get your p45 after your last day of pay