Statutory redundancy pay is based on the weekly pay, years at the job and age of the employee. To calculate the payment amount you can go to the UK Gov website.
Pay rise / old pay ie If some-one earning $1,000 per week gets a $50.00 pay rise, they have got a 5% pay rise.
You multiple the number of hours worked per week by the hourly pay by 52. Example if one works 30 hours a week and earns $10 an hour 10*30*52=$15600 is the annual pay.
ANNUAL
If overtime pay is 1 1/2, then it would be calculated like so... (hours worked) x (regular pay) x 1.5
with a calculator. (multiply weekly times 52)
There are many websites devoted to calculating redundancy pay for individuals in the UK. Each of these websites uses the same basic formula for calculations provided by the government. The payroll office at your employer should also be able to offer advice on calculating redundancy pay.
The employer.
Redundancy pay is similar to unemployment pay in the United States; it is payments to a former employee usually from the governement to help someone who had lost their job.
Yes, redundancy pay is part of your income and is therefore taxable. Of course, if you have been declared redundant, your next year's income will probably be lower, and hence you will pay less income tax.
Redundancy insurance is known as accident, sickness, unemployment insurance. Redundancy insurance is designed to pay you monthly benefits if you lose your income from accidental and sickness.
The P60 shows your taxable income and deductions and the information comes from the payer of the amounts to you.Certificate by Employer/Paying Office:This form shows your total pay for Income Tax purposes in this employment for the year.Any overtime, bonus, commission etc, Statutory Sick Pay, Statutory Maternity Pay, Statutory Paternity Pay or Statutory Adoption Pay is included.
"Your employer can't pay you Statutory Paternity Pay for any week you're at work." http://www.direct.gov.uk/en/MoneyTaxAndBenefits/BenefitsTaxCreditsAndOtherSupport/Expectingorbringingupchildren/DG_10018750 So that's a no!
One can calculate the business taxes he/she can pay by using software such as TurboTax that automatically calculate tax as you input your earnings. Alternatively, you can use form 1040-ES.
What? --------- Yeah. What?
No he cannot make you go self employed
Data redundancy means storage of data.
Someone can calculate their net pay for a year usually by multiplying their monthly pay received by twelve. This will give a close approximation but it will be close enough for most purposes.