Are you AN EMPLOYEE leaving your current employment? Are you in receipt of a lump sum from your employer? Or are you AN EMPLOYER making a termination payment to a staff member or a group of staff?  Do you know how to process these payments correctly through your payroll and avoid costly mistakes?  Are you aware of the appropriate tax treatment of same?

The calculations of the exemptions and reliefs relating to termination payments can be complex and detailed.  We can guide you through the options and help you structure any termination payments in an efficient manner helping to minimise the tax cost.

A contract of employment can be terminated legally in a number ways by agreement, by dismissal, by repudiation or by frustration and in these circumstances a payment on termination may be payable to an employee.