|Exceed CA Limited
Newsletter February 2009
|Newsletter February 2009|
This month our newsletter includes some of the tax implications of redundancy payments; a pre tax year end check list for the self employed; a comment on the effects of exchange rate fluctuations if you sell property abroad; and finally an update from HMRC on advisory fuel rates, the tax status of bonus payments to pensioners, and an announced further offshore disclosure facility.
Our next newsletter will be published on Thursday 5 March.
The notes that follow highlight a few but not all of the considerations that affect redundancy pay outs:
Q. Do I pay tax or National Insurance on my redundancy payment?
Q. Where can I get impartial advice on my rights if I am made redundant?
Q. What happens if I receive a company car or other goods in lieu of a redundancy payment?
Q. What happens if my employer cannot afford to pay me the statutory redundancy that I am due?
Q. If I receive a terminal bonus or payment for doing extra work leading up to redundancy, is this tax free?
Q. Do I qualify for statutory redundancy if I have worked for an employer for one year?
If you have concerns about redundancy as an employer or employee we would be happy to discuss the issues with you.
DISCLAIMER - PLEASE NOTE: The ideas shared with you in this email are intended to inform rather than advise. Taxpayers circumstances do vary and if you feel that tax strategies we have outlined may be beneficial it is important that you contact us before implementation. If you do or do not take action as a result of reading this newsletter, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.
Exceed CA Limited
Bank House, 81 St Judes Road, Englefield Green, TW20 0DF
Tel: 01784 439 955 Web: www.exceedca.com
Exceed CA is a limited company registered in England & Wales (10174844). Registered for VAT (792 6771 79). Directors of the firm are members of the South African Institute of Chartered Accountants and the Institute of Chartered Accountants England & Wales.