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Taxation of Termination Payments

The Government has delayed its requirement for employers to deduct employer NICs on all payments above the £30,000 tax threshold for non-contractual payments. Only income tax will continue to be deducted.

Initially this was due to be implemented in 2018 but this has now been delayed through 2019 and is now not due to take effect until April 2020.

Please contact us if you wish to discuss this further.

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