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30000 exemption
Termination payments and the £30,000 exemption
The Upper Tax Tribunal decides that payments in lieu of redundancy, even if paid years in advance of termination, qualify for the £30,000 exemption. On 6 December 2010, in the case Colquhoun v Revenue & Customs, the Upper Tax Tribunal overturned the January 2010 decision of the First-tier Tax Tribunal relating to the £30,000 tax [...]
