I've just had my final payslip and in addition to the redundancy payment, I've been paid three months pay in lieu of notice. This is, of course, taxable. However, the amount of tax that has been deducted on this payment is over twice the amount deducted in total from my Jan, Feb & Mar payslips. The gross taxable amount for those three months is, give or take a couple of hundred quid, the same gross taxable amount for my three months pay in lieu of notice payment I've just received. Therefore, you would expect the tax to be similar - but it's miles off.
I'll take it up with payroll on Tuesday but in the meantime are there any tax types here who can shed any light on it please ?
Lack of planning on your part does not constitute an emergency on mine.
Chips are "Plant-based" no matter how you cook them
Donald Trump needs kicking out of a helicopter
I'm personally responsible for all global warming
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If you find another job this tax year you'll reclaim the overpaid tax throughout the year through PAYE. Otherwise you'll need to claim it back from HMRC after the end of the tax year.
As said above, depending upon the sum involved, you could have been taxed at 45% with no task allowance at all.
I had to work my notice, bloody horrible time. My wife said just go off sick and in retrospect I should have. Much better to get payment in lieu of notice.
Lots of info on how the various parts of your redundancy payout will be taxed.
Chips are "Plant-based" no matter how you cook them
Donald Trump needs kicking out of a helicopter
I'm personally responsible for all global warming
https://www.personneltoday.com/hr/changes-payment-in-lieu-of-notice-tax/
It all depends whether your contract specified the PILON
Try phoning them up, they may refund some now, otherwise you need to claw it back from future earnings or claim it back after April 2020