Rejected petition Threshold of tax free redundancy pay to be raised from £30000 to £60000

Currently up to £30,000 of redundancy pay is tax free. Given it is and will be a very difficuilt job market this threshold should be increased to £60000 or completely tax free.

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Given the current circumstances with COVID19 lot more people are going to lose their jobs relying completely on the redundancy money they will receive. It will take a lot longer for someone to find alternative employment and therefore this move will help all those individuals to live on the redundancy money for a little bit longer instead of making a claim for Unemployment benefits. This will also help their families and be able to cope for a few more months during these unpresidented times.

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Date submitted 11 May 2020
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