Yim Ling Siu

[Yim Ling Siu @YL_Siu]

@HMRCcustomers Ok under what circumstances would the first £30k of the lump payment be tax free?

[Yim Ling Siu @YL_Siu]

@HMRCcustomers is it possible to go to the Leeds tax office to discuss an issue that is too complicated to explain on the phone?

[Yim Ling Siu @YL_Siu]

@HMRCcustomers I would still work my notice period and yes it is an employment settlement.

[Yim Ling Siu @YL_Siu]

@HMRCcustomers It hasn’t happened yet. It would be a years salary but there is confusion if £30k would be tax free. They said if I take it and retire then no, but if I take it and delay retirement then £30k would be tax free. If it is not tax free this takes me into the highest tax band.

[Yim Ling Siu @YL_Siu]

@HMRCcustomers Income tax and lump sums from settlement ageeements