Termination payments

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9th Nov
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9th Nov
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Produced in partnership with Ali Kazimi and Chris Orchard of Hansuke Consulting Limited 12th Jan
Practice notes
It is standard market practice for loan agreements (also known as facility agreements), whether bilateral or syndicated, to:•prohibit a borrower from...
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Produced in partnership with Eloise Walker of Pinsent Masons 12th Jan
Practice notes
This Practice Note describes the law and practice relating to elections under section 198 or 199 of the Capital Allowances Act 2001 (CAA 2001), which...
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Produced in partnership with Martin Wilson 12th Jan
Practice notes
The reasons why a company might carry out a demerger, and the different ways in which a demerger may be structured, are described in Practice Notes:...
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Produced in partnership with Zoe Feller of Bird & Bird 12th Jan
Practice notes
It is market practice for a tax covenant, also known as a tax deed, to form part of the transaction documents in respect of a sale of all the shares...
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9th Nov
Practice notes
Plant and machinery allowances are the most widely used form of capital allowance. Plant and machinery is often (wrongly) interpreted as if the terms...
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Produced in partnership with Martin Wilson 12th Jan
Practice notes
Unilateral relief, like double tax relief, aims to relieve double taxation. Subject to certain conditions being satisfied and specific limits,...
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9th Nov
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Produced in partnership with John Fuszard of Sagars Accountants Ltd 12th Jan
Practice notes
Stamp duty land tax (SDLT) ceased to apply to any land transaction involving any interests in or over land in Scotland from 1 April 2015. From that...
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9th Nov
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Part 8 of the Corporation Tax Act 2009 (CTA 2009) is a specific corporation tax regime that applies exclusively to the gains and losses of intangible...
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Produced in partnership with Anne Fairpo of Temple Tax Chambers 12th Jan

Most recent Termination payments content

Practice notes
The tax treatment of payments in lieu of notice (PILONs) fundamentally changed under the amendments to sections 402 to 404 of the Income Tax (Earnings...
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Produced in partnership with Sam Whitaker of Shearman & Sterling 21st Apr
Practice notes
Some payments made on the termination of an employment or office can be paid tax free. Some of these exemptions are often overlooked in practice. The...
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Produced in partnership with Sam Whitaker of Shearman & Sterling 19th Apr
Practice notes
Depending on the circumstances, a payment made or other benefit provided in connection with the termination of an office or employment may be taxable...
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Produced in partnership with Sam Whitaker of Shearman & Sterling 9th Apr
Practice notes
The foreign service exemption is, broadly, an exemption from income tax which applies to termination payments where:• the employee worked all or part...
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Produced in partnership with Sam Whitaker of Shearman & Sterling 9th Apr
Practice notes
Redundancy is one of five ways in which an employment contract may be terminated unilaterally by an employer where such termination will be...
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Produced in partnership with Sam Whitaker of Shearman & Sterling 9th Apr
Practice notes
Restrictive covenants or undertakingsThese are undertakings given by employees during employment or on termination which restrict their conduct or...
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Produced in partnership with Sam Whitaker of Shearman & Sterling 9th Apr
Practice notes
Coronavirus (COVID-19) and TUPE transfers: the Coronavirus Job Retention Scheme (CJRS), which provides support to employers with a grant to enable...
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9th Apr
Practice notes
ARCHIVED: This Archived Practice Note outlines the pre-6 April 2018 tax treatment of payments in lieu of notice. For the tax treatment applicable to...
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Produced in partnership with Lesley Fidler and David Heaton of Baker Tilly for Tolley’s Tax Digest and Sam Whitaker of Shearman & Sterling LLP 9th Apr
Practice notes
The first question in respect of any termination payment or benefit is whether it is taxable on basic principles as earnings from or an emolument of...
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Produced in partnership with Sam Whitaker of Shearman & Sterling 9th Apr
Practice notes
The taxation of termination payments underwent a substantial reform in 2018. Consequently, since 6 April 2018, the tax (and National Insurance...
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Produced in partnership with Sam Whitaker of Shearman & Sterling 9th Apr
Practice notes
Where an employee has potential claims against the employer under the Employment Rights Act 1996 (ERA 1996) or other employment legislation, or where...
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Produced in partnership with Sam Whitaker of Shearman & Sterling 9th Apr
Precedents
UPDATE: POST-EMPLOYMENT NOTICE PAY (PENP): From 6 April 2021, an alternative PENP calculation is available for employees paid by equal monthly...
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7th Apr
Precedents
UPDATE: POST-EMPLOYMENT NOTICE PAY (PENP): From 6 April 2021, an alternative PENP calculation is available for employees paid by equal monthly...
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7th Apr
Precedents
UPDATE: From 6 April 2021, an alternative PENP calculation is available for employees paid by equal monthly instalments but whose post-employment...
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29th Mar
Q&As
Post-employment notice pay (PENP) calculationThe first step when considering the taxation of termination payments, including payments in lieu of...
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22nd Mar
Q&As
It is important to note that the position of a person whose employment was terminated without notice (and without being entitled to notice), such as...
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19th Mar
Q&As
The changes to the taxation of termination payments are to be introduced into Chapter 3 of Part 6 of the Income Tax (Earnings and Pensions) Act 2003...
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15th Feb
Q&As
Where an employee has potential claims against the employer under the Employment Rights Act 1996 (or other employment legislation, or where the...
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15th Feb
Q&As
Employees are required to have income tax and employee National Insurance contributions (NICs) deducted from their general earnings, at source, before...
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11th Feb

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