Proposals for reforming the taxation of termination payments
The Office of Tax Simplification (OTS) published its final report on the taxation of employee benefits and expenses and termination payments on 31 July 2014. Addleshaw Goddard reports on the recommendations and proposals in respect of the taxation of termination payments.
Notably, the OTS recommends the abolition of the existing £30,000 relief from income tax on termination payments.
In summary, the OTS recommends that the current £30,000 relief from income tax for payments and other benefits that are received directly or indirectly in connection with the termination of employment is abolished…
Click on the link below to read the rest of the Addleshaw Goddard briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from The Lawyer
Analysis from The Lawyer
Freshfields Bruckhaus Deringer has made waves in Manchester by offering the city’s paralegals turbocharged salaries to switch allegiances.
Which firms are cutting it in this era of slimline rosters, and who are the GC new brooms making clean sweeps? The Lawyer can reveal all