Employment Termination Packages - A Guide for Payroll Personnel
April 2018 brought the first changes regarding the calculation of termination payments. All payments in lieu of notice (PILON) are all now taxable and NIable, regardless of the contract of employment.
Any termination packages that include a redundancy element must now complete the Post Employment Notice Pay formula. The result of this calculation will determine if any of the termination award can be included in the £30,000 tax free exemption.
In April 2019, further changes will be implemented for the £30,000 tax free exemption.
This webinar is designed to guide employers through this new and complex area of payroll legislation.
What You Will Learn
This webinar will cover the following:
- Contractual and Non-Contractual Payment In Lieu Of Notice (PILON) payments
- Understanding the Post Employment Notice Pay formula
- Reviewing termination packages
- Changes proposed for April 2019