Tax update and PENP rules

11 minute read
25 September 2018

There was a significant change to the tax treatment of payments in lieu of notice on 6 April 2018. This podcast looks at the effect of the post-employment notice pay (PENP) change, the impact on the £30,000 tax free exemption and other tax developments. What should employers be doing? What do employers need to be aware of and what are the pitfalls?


Update: Following the Budget 2018, the planned implementation date for the change to national insurance contributions (NIC) tax treatment for termination payments above £30,000 (employers will be liable to pay Class1A NIC) has changed from April 2019 to April 2020.

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