Important changes were made to the tax and National Insurance treatment of certain termination payments which came into effect on 6 April 2018 and again on 6 April 2020. Of particular importance were the changes to the rules concerning Payments in Lieu of Notice (PILONs) – now known as Post-Employment Notice Pay (PENP) – which require such payments to be subject to tax/NIC in full regardless of whether or not they arise from a contractual entitlement. Whilst the concept behind the rules appears to be straightforward, the details on how the new rules should be applied in practice certainly appear to be anything but that and it is an area that continues to challenge our clients.
This course is an in-depth look at all aspects of navigating the complexities of the tax and NIC rules regarding the different types of termination payment, including redundancy, compensation for loss of office and the application of the Post-Employment Notice Pay (PENP) rules where employees do not work their full notice period. This will include the key principles that underpin the tax/NIC rules, as well as the key reporting requirements.
Additionally, we will cover the complexities of trickier areas relating to termination settlements, including injury and disability payments, damages and hurt feelings.
This course will be supported by the use of case studies.
We recommend this training course to all PSTAX clients and contacts and particularly for staff in HR, payroll and finance.
- The training sessions will start at 10.00am, finishing no later than 1.00pm
- The cost of the training courses is £165 plus VAT per course for PSTAX Club subscribers and £195 plus VAT per course for other delegates.
- There is a 10% discount for your second delegate and a 30% discount for your third.
- If you book and subsequently find that you cannot attend, please email email@example.com.
- Please confirm your bookings as soon as possible.