Following on from another thread......if you were made redundant.......

Discussion in 'Bulletin Board ARCHIVE' started by 'thereev', May 5, 2015.

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  1. 'thereev'

    'thereev' Banned Idiot

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    A very large railway company....good t's and c's.

    Hth
     
    'thereev', May 5, 2015
    #21
  2. Ged

    Geddiswasguud Well-Known Member

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    What about putting £20,000 into a personal pension especially if you are 55. You would get 20% gift from the HMRC. So get £5000 for doing nothing!
    Then take tax free lump sum from £25,000 minimum ie(25%)= £6250.
    Kerching!!
     
    Geddiswasguud, May 5, 2015
    #22
  3. Plankton Pete

    Plankton Pete Well-Known Member

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    Booze, drugs and high class hookers.
     
    Plankton Pete, May 5, 2015
    #23
  4. tyr

    tyrone1 Banned Idiot

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    It's the goung rate a month for every year with first 30k tax free

    And of course if you are over55 it's all tax free
     
    tyrone1, May 5, 2015
    #24
  5. RichK

    RichK Well-Known Member

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    The rest you'd just waste.
     
    RichK, May 5, 2015
    #25
  6. BFC Dave

    BFC Dave Well-Known Member

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    Sorry mate please explain that one.
     
    BFC Dave, May 5, 2015
    #26
  7. tyr

    tyrone1 Banned Idiot

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    How to get it tax free? Get your redundancy paid in your last wage pay anything ovrr 30kin to your pension as an avc and tale ot straight back out in your lump sum.
     
    tyrone1, May 5, 2015
    #27
  8. W1z

    W1zz Well-Known Member

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    I've been at my place of work 25 yrs last October. Due at least £30K when they come knocking.

    Even though I bloody hate the place, there's no way I'm going to jump ship now.
     
    W1zz, May 5, 2015
    #28
  9. BFC Dave

    BFC Dave Well-Known Member

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    ah I see but you'd get 25% back tax free surely ?
     
    BFC Dave, May 5, 2015
    #29
  10. tyr

    tyrone1 Banned Idiot

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    Not sure of the finer detail because im not 55 but that's what the over 55s I worked with all did
     
    tyrone1, May 5, 2015
    #30
  11. RichK

    RichK Well-Known Member

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    A month for every year, doesn't have to be at the rate you are paid though, there are statutory figures that can be used. It's not quite as simple as a month for each year either. In my experience (and people I know) have all been paid stat minimum, a struggling company (the usual reason for redundancies) can't afford to be generous.
     
    RichK, May 5, 2015
    #31
  12. Plankton Pete

    Plankton Pete Well-Known Member

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    Copyright George Best.
     
    Plankton Pete, May 5, 2015
    #32
  13. tyr

    tyrone1 Banned Idiot

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    I can only speak from experience
     
    tyrone1, May 5, 2015
    #33
  14. RichK

    RichK Well-Known Member

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    Aye. Should have acknowledged really.
     
    RichK, May 5, 2015
    #34
  15. Young Nudger

    Young Nudger Well-Known Member

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    Good reply

    Or, use it to pay off your mortgage

    Or, use it as a cushion to go through college or university to re-train
     
    Young Nudger, May 5, 2015
    #35
  16. Dragon Tyke

    Dragon Tyke Well-Known Member

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    Re: if its voluntary redundancy under compusary terms.

    did 22 years for the RAF then stayed on in a civilian post .. MoD. for 8 extra years.
     
    Dragon Tyke, May 6, 2015
    #36
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