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Terminated

26 November 2008
Issue: 4186 / Categories: Forum & Feedback
A UK executive is seconded to the USA, but subsequently decides to return to the UK and is made redundant. A termination payment is made, but is this taxable under ITEPA 2003, s 62 or s 401? The replies examine the factors that need to be taken into account in confirming that the payment is not contractual.

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