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i have an employee aged 73, hes out sick since early march this year. He physcially will not be able to return to work. He has been with us since 2008 and a valued member of staff, he was fill time until about 18 months ago then he went to half days. We would like to terminate his employment (mutual agreement) and give him a lump sum. What is the the most tax efficient way to give him this, we were looking at redundancy but technically the job is still there and we will have to replace him, is there a retirement relief available? He is not in any pension scheme. Thanks

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Asked on 8 May 2019 4:42 pm