This course will cover common termination payments, their calculation, tax and NICs treatment and changes in the treatment of payments from April 2018.
Please note: Materials for this course will be made available via an online platform, however a selection of this materials will need to be printed off and brought with you on the day. Login details for the online platform will be sent to you 10 days before the course start date. If you have any problems or questions, please email email@example.com.
Who is this course aimed at?
Team leaders, supervisors and managers who are responsible for the calculation of termination packages and who need to be aware of tax rules applicable to these payments.
What will I learn?
During this training session you will understand what payments are due in which circumstances: how they are calculated, whether they are liable to statutory deductions or are partially or wholly exempt, how HMRC interprets contractual entitlement versus tax free payments, the net amount due under the ‘Gourley Principle’, and what PAYE procedures must be followed.
This course clarifies what the law is and how to correctly calculate final payments and the proposed new rules from April 2018 relating to PILONs and redundancy payments.
- The ‘Gourley Principle’ - tax and NICs treatment
- Restrictive covenants and PILONs
- Redundancy payments
- Breach of contract
- Injury and disability
- Compromise agreements
- Holiday pay
- Timing of payments
- Benefits under a retirement benefit scheme
- Loan write-offs
- Benefits In Kind (BIK)
- Recording and reporting requirements
On completion, delegates should be able to:
- Fully understand which type of termination payment is due and know the tax and NICs treatment applicable
- Accurately calculate the payment(s) due
- Be able to correctly record and report the various types of termination payments
The CIPP can offer in-house delivery on most training courses.
In-house delivery can be very attractive for organisations as they can train large numbers of employees* at a reduced rate, without the additional associated costs, such as travel and 'lost time'.
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*Minimum number of delegates apply