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TaxRobin, Tax Consultant
Category: Tax
Satisfied Customers: 17223
Experience:  International tax
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My Company made me redundant after 3 months and offered me

Customer Question

My Company made me redundant after 3 months and offered me a Ex gratia payment of 7 weeks pay (£10432 as a form of compensation of which a have paid income tax & N I on the amount. I understand that redundancy payments and ex gratia payments are free from tax up to value of £30k. The company have processed the payment through their pay role .
How do I make a claim to HMRC to reclaim the income tax ?
Submitted: 3 years ago.
Category: Tax
Expert:  TaxRobin replied 3 years ago.
You can claim a tax refund by filling in form P50 Claiming tax back when you have stopped working.
Because you were made redundant, you are required to contact HMRC before filling in form P50 and they will tell you what other information you need to provide.
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'Redundancy payments' (the component paid as compensation for redundancy) are not liable for NICs and in the majority of cases are not taxable up to £30,000. To get the tax and NICs positions right it's therefore important to identify the various components of the package correctly. HMRC may require a copy of the package.

You will need to contact HMRC first and then they will advise if they need more information prior to the refund.
Expert:  TaxRobin replied 3 years ago.
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