Tax and payments on termination of employment contract - Phillips v Revenue and Customs Commissioners [FTT (Tax)] 07.03.16 (Unreported)
Income tax – Payments as compensation on termination of employment contract – Payments made to an employee in lieu of notice - Whether payments subject to tax as general earnings within section 62 of Income Tax (Earnings and Pensions) Act 2003 – Whether subject to tax under sections 401 and 403 of Income Tax (Earnings and Pensions) Act 2003 – Whether payment should be apportioned between tax years. HELD that the payments were taxable as payments in connection with the termination of employment under s.403 and not as general earnings under s.62.http://www.bailii.org/uk/cases/UKFTT/TC/2016/TC04950.html
Category: Taxation » Employment. Area(s) of law: Employment; Tax.
Source:  UKFTT 174 (TC).