{"id":626,"date":"2014-09-30T10:54:35","date_gmt":"2014-09-30T09:54:35","guid":{"rendered":"http:\/\/www.tayloremmet.co.uk\/blsblog\/?p=626"},"modified":"2014-09-30T10:54:35","modified_gmt":"2014-09-30T09:54:35","slug":"taxation-of-termination-payments","status":"publish","type":"post","link":"https:\/\/www.tayloremmet.co.uk\/blogs\/taxation-of-termination-payments\/","title":{"rendered":"Taxation of termination payments"},"content":{"rendered":"<p><a href=\"https:\/\/www.tayloremmet.co.uk\/blogs\/wp-content\/uploads\/blue_robm_panel.jpg\"><img decoding=\"async\" class=\"alignleft size-thumbnail wp-image-21\" alt=\"blue_robm_panel\" src=\"https:\/\/www.tayloremmet.co.uk\/blsblog\/wp-content\/uploads\/2013\/07\/blue_robm_panel-150x140.jpg\" width=\"150\" height=\"140\" \/><\/a>Businesses should take note of a First-tier Tribunal (Tax Chamber) ruling which held that the first \u00a330,000 of an interim payment awarded by an employment tribunal to an appellant was exempt from income tax. This was on the basis that the payment arose from termination of employment rather than from the employment itself. Employers will need to ensure that interim payments made in excess of \u00a330,000 are subject to PAYE (assuming that the employee has not used any part of the \u00a330,000 exempt amount previously).<\/p>\n<p>The Office of Tax Simplification has recently published its final report on employee benefits and expenses that includes recommendations to simplify the taxation of termination payments.<\/p>\n<p>A\u00a0checklist that summarises how termination payments are currently taxed is available on request.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Businesses should take note of a First-tier Tribunal (Tax Chamber) ruling which held that the first \u00a330,000 of an interim payment awarded by an employment tribunal to an appellant was exempt from income tax. This was on the basis that the payment arose from termination of employment rather than from [&hellip;]<\/p>\n","protected":false},"author":36,"featured_media":3803,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1487,338],"tags":[265,1705,1855,2013],"class_list":["post-626","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-business","category-employment","tag-case-studies","tag-first-tier-tribunal","tag-paye","tag-taxation"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Taxation of termination payments | Blogs<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.tayloremmet.co.uk\/blogs\/taxation-of-termination-payments\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Taxation of termination payments | Blogs\" \/>\n<meta property=\"og:description\" content=\"Businesses should take note of a First-tier Tribunal (Tax Chamber) ruling which held that the first \u00a330,000 of an interim payment awarded by an employment tribunal to an appellant was exempt from income tax. This was on the basis that the payment arose from termination of employment rather than from [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.tayloremmet.co.uk\/blogs\/taxation-of-termination-payments\/\" \/>\n<meta property=\"og:site_name\" content=\"Blogs\" \/>\n<meta property=\"article:published_time\" content=\"2014-09-30T09:54:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.tayloremmet.co.uk\/blogs\/wp-content\/uploads\/blue_robm_panel.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"160\" \/>\n\t<meta property=\"og:image:height\" content=\"140\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Rob Moore\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rob Moore\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta 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