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Tag: lump sum tax

Tax on lump sum payments

Tax on lump sum payments

Tax on Lump sum payments You may receive a lump sum payment from your employer if you retire or have left work. You will only be liable to pay tax on the amount of your payment that is more than either: basic exemption increased exemption (if due) Standard Capital Superannuation Benefit (SCSB). Basic exemption The basic exemption is…

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