Severance and Redundancy
Definition of Redundancy "when an employee is no longer required to do a job because the employer has decided that the job will no longer be done by anyone"
This could be due to a number of factors, however in the event of Redundancy the employee could then be eligible for a Severance payment.
Severance/Redundancy payments can be partially tax-free depending on the circumstances surrounding the payment. In this respect, it is important you get the right advice from a professional to ensure you are receiving all available benefits.
Our qualified advisor can help you make the right decision, when it comes to these payments.
Call us to discuss.