Increase £30,000 redundancy pay tax free threshold to £60,000 or fully tax free.

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Increase £30,000 redundancy pay tax free threshold to £60,000 or fully tax free.

Petition Details

Currently up to £30,000 of redundancy pay is tax free. Given it is and will be a very difficult job market this threshold should be increased to £60,000 or made completely tax free.

Additional Information

Given the current circumstances with COVID19 lot more people are going to lose their jobs relying completely on the redundancy money they will receive. It will take a lot longer for someone to find alternative employment and therefore this move will help all those individuals to live on the redundancy money for a little bit longer instead of making a claim for Unemployment benefits. This will also help their families and be able to cope for a few more months during these unpresidented times.

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