Redundancy: your rights
Tax and National Insurance
If you鈥檙e made redundant, you may get a 鈥榯ermination payment鈥�. This could include:
- statutory redundancy pay
- holiday pay
- unpaid wages
- company benefits, for example bonuses
Statutory redundancy pay under 拢30,000 is not taxable.
What you鈥檒l pay tax and National Insurance on depends on what鈥檚 included in your termination payment.