REDUNDANCY UK | Tax planning with your redundancy payment...

REDUNDANCY UK - Tax planning with your redundancy payment. In this video I explain what might be included in the redundancy package, how this might be taxed, the impact on your Personal Allowances and how either an employee or employer pension contribution might mitigate the loss of these allowances. ⏰ 0:00 - Introduction 1:17 - The redundancy package 2:08 - Basis that Statutory Redundancy is calculated 3:41 - Other pay you may be entitled to? 4:00 - Payment in lieu of notice (PILON) 4:13 - Payment in respect of a Restrictive Covenant 4:35 - Tax 6:03 - Impact on your tax allowances 7:40 - Impact on Child Benefit 8:03 - Impact on Pension Annual Allowance 8:43 - Making a Pension contribution Previous video on 'UK STATE PENSION 2020 OVERVIEW - How much, when and will I qualify for UK STATE PENSION?': - https://youtu.be/Y22VA4i31gw Gov.UK website for information relating to redundancy:- https://www.gov.uk/redundancy-your-rights My channel is for information and education purposes only. Any information or guidance given does not act as financial advice. Please consult a financial adviser if you are unsure in anyway My aim is to provide education and guidance to help individuals understand PENSIONS, INVESTMENTS and PROTECTION.