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23rd July 2021
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Whether you are an employee or an employer, you must learn all about the new changes that are going to be made with regards to the termination of a contract.
It’s not a whole new system that needs to be learnt, there are simply just a few details that have been altered with hopes of making things just that little bit easier for you.
This months Active Practice goes through:
- Whether payments made on termination may be taxed, either as earnings or as termination payments.
- The New Rules – New Approach
- New – Post-employment notice pay
- Determining the tax payments
- o Rule 1
- o Rule 2
- £30,00 Threshold
- Class 1 A National Insurance
- Planning ahead
If you need further explanation with anything we can of course help you and go into greater detail, but first of all take a look at our latest Practice Update to find out more. You can download it here:
JDA – Active Practice – 2018-02 – Termination Payments
Thank You.
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Any questions?
If you’d like a meeting or a Skype call to discuss this, please get in touch with your favourite Liverpool accountant
- You can ring us on 0151 380 8080
- You can email us at growth@jondaviesaccountants.co.uk
