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Redundancy Tax Relief

  • 05-03-2018 4:06pm
    #1
    AOH77A
    Registered Users, Registered Users 2 Posts: 127 ✭✭


    Is SCSB tax relief in addition to statutory tax relief ?

    For example - 20 years service - 4 weeks a year severance - Average salary 50,000 - No lump sum.

    SCSB = 50,000 /15 X 20 = 66,666
    Statutory redundancy = 12,600

    Is the tax free relief amount 66,666 ? Or is it 66,666 + 12600 = 79,266 ?


Comments

  • #2
    thierry14
    Closed Accounts Posts: 1,480 ✭✭✭thierry14


    AOH77A wrote: »
    Is SCSB tax relief in addition to statutory tax relief ?

    For example - 20 years service - 4 weeks a year severance - Average salary 50,000 - No lump sum.

    SCSB = 50,000 /15 X 20 = 66,666
    Statutory redundancy = 12,600

    Is the tax free relief amount 66,666 ? Or is it 66,666 + 12600 = 79,266 ?

    Thought it was capped at 600e a week?


  • #3
    AOH77A
    Registered Users, Registered Users 2 Posts: 127 ✭✭AOH77A


    May be wrong but I was using two weeks' pay for every year of service plus one further week's pay capped at 600 per wee for statutory.

    But interested if SCSB relief is in addition to statutory.


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