Learning about Compromise Agreement Tax?
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It would be prudent to draft the Agreement such that each component of the final settlement is itemised individually. The specific text of the Agreement itself and the employee's own contract may determine the outcome.
For the taxable components within a Compromise Agreement and the tax payable, see here
Which elements are taxable?
Wondering which elements are taxable?
It is necessary to differentiate between earnings, restrictive covenant benefits and anything else in connection with termination.
Free Employers' Guide
Free Employers' Guide to Redundancy click here