Termination Payments – Changes to PILON status
A recent government proposal is likely to make all pay in lieu of notice (PILON) payments taxable and NI deductible from April 2018. This change will make termination payments costlier for businesses if the proposal is accepted as legislation. Currently non-contractual termination payments up to £30,000.00 are paid tax and NI free to leavers. This Read more about Termination Payments – Changes to PILON status[…]