How Are Redundancies Taxed . How to calculate the tax free portion of your redundancy payment. YouTube Your genuine redundancy payment is: tax-free up to a limit depending on your years of service; concessionally taxed as an employment termination payment (ETP) above your tax-free limit; taxed at your usual marginal tax rate for any amount above certain caps. In some cases, a portion of the redundancy compensation may be tax-free up to a certain limit, while the remainder calculate redundancy pay is taxed at the employee's marginal rate
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In other situations, an employee may leave early, or even straightaway. However, any amount of redundancy pay over £30,000 is subject to income tax, but not NICs.
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