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Where do I declare redundancy or severance payments?
Last updated: 15 Jun, 2016
If you receive a redundancy or severance payment from an employer, you need to declare it on your tax return as follows.
Example: If you receive a £40,000 redundancy payment, enter £30,000 in Compensation and lump sum exemption, up to £30,000 and £10,000 in Redundancy and other lump sum and compensation payments in EXCESS of £30,000 exemption.
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