Petition Tax free redundancy package should be increased from £30,000 to £60,000

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The HMRC currently allows a concession, pursuant to the Income Tax (Earnings & Pensions) Act 2003, whereby the first £30,000 of a compensation payment for loss of employment, can be paid free of income tax and national insurance deductions.

The limit has been set at £30,000 for more than 30 years now and an increase is long overdue.

If it was increased in line with RPI, it would be at least £100,000 tax free.

Increasing the tax free limit would do much more to help more people made redundant and reduce the burden on employers.

This petition is closed This petition ran for 6 months

2 signatures

Progress of the petition towards its next target: 2 of 10,000 signatures required to get a government response

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10,000 signatures required to get a government response

Date closed 2 November 2013
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