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NIC on termination payments

Answer
Aruldoss Gnanaprakasam
Posted Sun, 22 Sep 2024 12:54:04 GMT by Aruldoss Gnanaprakasam
If the termination payment is above 30K, do we as an employee have to pay NIC please on the amount greater than 30K . For example, if the termination payment was 40K, do we pay NIC on 10k (40-30). Totally understand we pay the normal income tax on this amount. Thanks
Answer
HMRC Admin 17 Response
Posted Tue, 01 Oct 2024 09:36:51 GMT by HMRC Admin 17 Response

Hi,
 
Please refer to the following Guidance :

Tax on termination payments   .

Thank you .
  

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