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bigduckontax
bigduckontax, Accountant
Category: Tax
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Experience:  FCCA FCMA CGMA ACIS
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I left my last employer through VOluntary redundancy 6months

Resolved Question:

Hi I left my last employer through VOluntary redundancy 6months ago. I haven't worked or claimed any benefits since. Because my salary income and taxable proportion of my redundancy meant my income was 104k I have been advised I need to complete a self assessment tax return. When I complete this it is showing a tax refund due of 9k which doesn't sound right ?
Submitted: 1 year ago.
Category: Tax
Expert:  bigduckontax replied 1 year ago.
Hello, I am Keith, one of the exp[erts on Just Answer, and pleased to be able to help you with your question. Firstly the first 30K of any redundancy payment to you is tax free. It is thus entirely possible taking that into account that, as you have not worked nor claimed benefits for six months, the computation could be correct. I see from the tenor of your question that you are using the HMRC on line tax return. Personally I would not use that media, I am a great believer in making a paper tax returns and letting HMRC work out your position, but that is merely my preference. I do hope that I have been able to shed some light on to your position.
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Expert:  bigduckontax replied 1 year ago.
Thank you for your support.

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