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Income Taxes › Termination Payments

Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect... more +
Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -
Dechert LLP

Termination Payments - Changes to the taxation of UK termination payments

Dechert LLP on

In this OnPoint, we report on two changes to the taxation of termination payments to departing employees of which employers need to be aware – first, the levying with effect from 6 April 2020 of employer’s national insurance...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

A New Regime: Changes to the Tax and National Insurance Contributions Treatment of Termination Payments in the UK to Take Effect...

Ogletree, Deakins, Nash, Smoak & Stewart,... on

On April 6, 2018, there will be an important change to the way termination payments are taxed in the United Kingdom. New tax rules, which aim to simplify the taxation of termination payments, will mean that income tax and...more

Faegre Drinker Biddle & Reath LLP

Changes to the Taxation of Termination Payments

Faegre Drinker Biddle & Reath LLP on

The U.K. government has introduced the following changes to termination payments which will apply from 6 April 2018: - Where an employer has no contractual right to make a payment in lieu of notice, but decides to make a...more

McDermott Will & Emery

UK Employment Alert: Changes To The Taxation Of Termination Payments

McDermott Will & Emery on

The government has published its response to feedback received on its proposals to simplify the taxation of termination payments, expected to come into force in April 2018. The following table sets out the main proposals...more

Faegre Drinker Biddle & Reath LLP

Proposed Changes to the Taxation of Termination Payments

Faegre Drinker Biddle & Reath LLP on

Following a consultation on the taxation of termination payments launched in summer 2015, the U.K. government has proposed a number of measures intended to take effect in April 2018, including: - Making all payments in...more

McDermott Will & Emery

Changes To The Taxation Of Termination Payments

McDermott Will & Emery on

Summary - The government has published its response to feedback received on its proposals to simplify the taxation of termination payments, expected to come into force in April 2018. The following table sets out...more

Faegre Drinker Biddle & Reath LLP

Proposals to Simplify the Tax Treatments of Termination Payments

Faegre Drinker Biddle & Reath LLP on

Broadly speaking, the position is currently that the first £30,000 of any non-contractual termination payment can be paid free of deductions for tax and national insurance (NI), and that most other payments are subject to tax...more

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