Redundancy pay - Contractor UK Bulletin Board

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vizag started a topic Redundancy pay

29 January 2010, 16:52
Redundancy pay

Hi,

For my first contract, I worked for 6 months through a company and once I set up my own ld company, I moved the contract to it.

For that first 6 months period, the company paid me 17.5k in salary with all the NI and tax. and 5k as redundancy payment.
I know that there is a provision for redundancy payment for upto 30k. but if I declare this 5k as tax free redudancy payment, am I inviting trouble from HMRC?

Any suggestions/comments are much appreciated.

Thanks
V
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