Work, redundancy and retirement
Whether you’re moving between jobs, taking a second job or approaching retirement, the financial issues can be complicated. Get some expert help here:
How can we help?
I’m a higher-rate taxpayer and I receive Child Benefit. What should I do?
From January 2013, if your income is a certain amount and you continue to claim Child Benefit, you may have to pay the new High Income Child Benefit Charge. You need to let HMRC know, and complete a self-assessment tax return.
You can choose not to receive Child Benefit at all, but if you lose your job or your income falls, you can’t start claiming it again for a time.
We can help you decide on the best way forward.
I have a second job, and I’m worried that my PAYE tax codes aren’t correct. Can you help?
Yes, we can look at the tax you’re paying on both jobs, work out what your tax codes should be and deal with HMRC on your behalf. This is usually much quicker than doing it yourself.
I’m about to be made redundant. What will I be paid, and what is my tax position?
You’ll either receive the statutory minimum or possibly a larger redundancy payment depending on your employer.
We can work with your solicitor to represent you in negotiations and get you the best settlement both legally and financially. You may be able to get some or all of your payment tax-free.
We can also help you sort out the issues around relinquishing share options.
What tax will I pay when I retire?
However you invest your pension fund or lump sum, you’ll receive income, so there will probably be tax to pay. You also need to make sure that HMRC know about your transition from employment to retirement income. We can offer expert advice and deal with HMRC on your behalf.