I've been employing my wife for the last few years at a salary of £6000. I'm going to be closing my company in April so will be looking to make her redundant at the end of March. I was under the impression I could make a tax free redundancy payment to her of £30k but when I asked my accountant about this he said there is a limit based on actual salary that I have been paying and is giving me a figure far lower.
This doesn't sound correct to me and I can't see anything on the government website about restrictions to amounts, only on statutory amounts. The redundancy amount should be at the discretion of the company as far as I can see.
Is my accountant talking rubbish here?
This doesn't sound correct to me and I can't see anything on the government website about restrictions to amounts, only on statutory amounts. The redundancy amount should be at the discretion of the company as far as I can see.
Is my accountant talking rubbish here?
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