309 Limited exemptions for statutory redundancy payments
Income Tax (Earnings and Pensions) Act 2003 (2003 c 1) | Legislation

Chapter 10
Exemptions: Termination of Employment

Redundancy payments

309  Limited exemptions for statutory redundancy payments

(1)     No liability to income tax in respect of earnings arises by virtue of a redundancy payment or an approved contractual payment, except where subsection (2) applies.

(2)     Where an approved contractual payment exceeds the amount which would have been due if a redundancy payment had been payable, the excess

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