Termination payments

Chartered Institute of Payroll Professionals

Course

Online

£ 267 VAT inc.

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Description

  • Type

    Course

  • Level

    Beginner

  • Methodology

    Online

Termination payments are a complicated area of payroll with numerous (and sometimes) interchangeable terms describing different kinds of payments which attract a variety of tax and NIC liabilities. The payroll department is usually called upon to navigate through this labyrinth.

From detailing the variety of common payments which form part of a termination package, this course examines their correct tax/NIC treatments and their correct application in a variety of circumstances, from redundancies to contractual breaches, retirement and death in-service.

The course is suitable for delegates that have the following suggested roles:
- Payroll supervisors
- Payroll managers
- HR managers

If you are responsible for are responsible for the calculation of termination packages and/or require awareness of the tax rules applicable to these payments.

Facilities

Location

Start date

Online

Start date

SeptemberEnrolment now open
OctoberEnrolment now open
NovemberEnrolment now open

About this course

To equip you with an understanding of the various types of termination payments and their correct tax/NIC treatments to enable them to ensure their organisations administer such payments correctly.
- Identify which type of termination payment is due and know the tax and NICs treatment applicable
- Accurately calculate the payments due
- Be able to correctly record and report the various types of termination payments.

Team leaders, supervisors and managers who are responsible for the calculation of termination packages and who need to be aware of tax rules applicable to these payments.

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Reviews

This centre's achievements

2020

All courses are up to date

The average rating is higher than 3.7

More than 50 reviews in the last 12 months

This centre has featured on Emagister for 14 years

Subjects

  • Payroll
  • NICs
  • Pensions
  • Student loan
  • RTI
  • Apprenticeship levy
  • Remittances
  • PAYE
  • Holiday Pay
  • Tax

Teachers and trainers (1)

CIPP trainer Trainer

CIPP trainer Trainer

CIPP Trainer

Course programme

Outlining the contractual implications of termination payments

- Identifying the effective date of termination

- Summarising the factors determined by the contract of employment

- Explaining the correct treatment of benefits in kind as part of termination packages


Outlining the tax & NIC treatment of termination payments

- Identifying taxable & NICable components of termination payments

- Identifying tax and NIC exempt components of termination payments

- Applying the £30,000 exemption threshold correctly


Identifying the components of a Termination Payment

- Defining Restrictive Covenants

- Distinguishing between contractual & noncontractual Payments In Lieu Of Notice (PILONs)

- Distinguishing between statutory and contractual redundancy payments

- Defining ex gratia payments


Administer Post Employment Notice Payments (PENP)

- Identifying situations where PENP calculations are required

- Calculating PENP


Outlining correct practices for termination payments for death in service and retirement incidences

- Outlining the rules for contributing to UK and overseas pension schemes

- Summarising the rules for awarding termination payments associated with death in service

See related categories

Termination payments

£ 267 VAT inc.

The best Payroll courses

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