Tax on redundancy

Green&Red

Recently got a lump sum through the WRC. Where do I stand regarding that?
Also included was a couple of weeks wages and some outstanding expenses, am I within my rights to ask for a revised P45?
What happens if they don't send on a P45 or a statement which shows how the lump sum was split?
It took me a while to get the money out of them after the WRC ruling so I wouldn't want to be relying on them
I'm currently self employed but have done a mixture since I finished with these in Q1 2017.

Thanks

Turnipman

Green&Red wrote: »

Recently got a lump sum through the WRC. Where do I stand regarding that?

Also included was a couple of weeks wages and some outstanding expenses, am I within my rights to ask for a revised P45?

What happens if they don't send on a P45 or a statement which shows how the lump sum was split?

It took me a while to get the money out of them after the WRC ruling so I wouldn't want to be relying on them

I'm currently self employed but have done a mixture since I finished with these in Q1 2017.

Thanks

I don't think that you'll be able to get a revised P45 as the 2017 tax year is over.

Have a read of this and see if it answers your questions:

http://www.citizensinformation.ie/en/employment/retirement/income_tax_in_retirement/retirement_lump_sum_taxation.html

Green&Red

Thanks, I read that page earlier and got the bit about the first €10k but then their link to what other rules apply goes nowhere in the revenue website?

Turnipman

Green&Red wrote: »

Thanks, I read that page earlier and got the bit about the first €10k but then their link to what other rules apply goes nowhere in the revenue website?

Looks as though they're currently re-writing that leaflet.

Here is a link to the information that is summarised in the leaflet, can't promise you that it's bang up to date though!

http://www.taxfind.ie/binaryDocument//pdfs/http___www_revenue_ie_en_about_foi_s16_income_tax_capital_gains_tax_corporation_tax_part_07_07_01_27_pdf.pdf