Redundancy Calculator now on www.mod

[Al R]

http://83.138.137.164:9099/WizDisclaimer.aspx

Sombre viewing, now live.

[On_Loan]

The lump sum looks acceptable until you realise that everything over 30k is taxed :eek:

edit - although apparently they are exempt from tax...

[NUFC1892]

35 years served tomorrow and £24k redundancy. No, I think I will stick with the £140k I will be paid for staying in if it's all the same. :)

[Al R]

NU,

Mmmm. Are you sure? ;)

[Whenurhappy]

Linky thing doesn't seem to work. Perhaps it has crashed....?

[GalleyTeapot]

Was working about 5 mins ago, must have crashed!

[NUFC1892]

NU,

Mmmm. Are you sure? http://images.ibsrv.net/ibsrv/res/src:www.pprune.org/get/images/smilies/wink2.gif

£24,209 to be exact, not counting normal EDP & pension. AFPS05/AFRS06

Link working intermittently

[GalleyTeapot]

I thought that all redundancy payments over £30k were subject to tax, says so on HMRC website, however the Redundancy Calc states

" Special Capital Payment (SCP) - A tax-free lump sum that is only available to AFRS10 participants and is paid in addition to AFPS 75 benefits."

and

"Compensation Lump Sum (CLS) - A tax-free lump sum that is only available to AFRS06 participants and is paid in addition to AFPS 05 benefits."

So is SCP or CLS tax-free ot taxable? Makes a big difference!

[F.O.D]

On Loan

You state that lump sums in excess of 30k are taxable. You may wish to revisit that, as I understand that the special compensation on redundancy from HM Forces is tax free. At least that's what it says on the accompanying notes. If not, I would owe the tax man loads of dosh from the last redundancy scheme!!!

F.O.D

[On_Loan]

F.O.D.- in that case - phew!

[stablelad]

WHENURHAPPY

Have you ticked "I accept the terms (you have to accept the terms to continue) box?

It worked for me a minute ago.

The box is slightly hidden, but can be found below this text.

Armed Forces Redundancy Scheme 2006(AFRS 06)
(TICK) I accept the terms (you have to accept the terms to continue)

Good Luck!

[Whenurhappy]

Its working now....the site was overloaded and wouldn't open. Anyway, I've made my calculations and have put Annex B to PArt B of the DIN in this morning's post...

[Samuel]

Err... Whenur...what does that mean?

[Scuttled]

He's off mate. That's the form to formally request permission to bugger off.

So, from what I have gleaned........ a bloke with an interesting/valued skill set and nice broad outlook - partially formed from some expensive training and lots of (probably very useful and again expensive) overseas tours - who has finally had enough. Sounds like a useful officer, IMO.

Erm, go Air Force. Woo! Good job. Industry will be delighted.

Whenurhappy - good luck fella.

[Whenurhappy]

Why, Scuttled, you've made me blush!

I hope that industry are kind enough to give me a job...but your are right about the expensive training, overseas tours etc. Spoke to someone at Manning about future prospects (none), who used the expression 'but we've invested heavily in you'...'Oh, like the Nimrod MRA4, then?' should have been my reply.

I just hope I am sucessful with the Redundancy application (9/12ths Annual Pay would be razzer useful), inaddition to my commuted lump sum..

[Willard Whyte]

Received today:


It has become apparent that the Redundancy Calculator is not quite working as it should and some of the CLS/SCP calculations are incorrect. I have spoken to the Redundancy Focal Point (RFP) and they are fully aware of the situation. They hope to have further information by the end of today as to if/when this will be rectified and I will update you as and when I hear anything.

However in the interim please can you promulgate around your AOR that personnel should not take the information from the Redundancy Calculator as read and that this may not be what they will be entitled to if selected for Redundancy.

[cazatou]

I think I can hear the sound of Lawyers rubbing their hands with glee!!

[Samuel]

I hope that industry are kind enough to give me a job

All the best Whenur. I hope it all works out, although I'm sure you have nothing to worry about. You'll be a great asset!:ok:

[Navaleye]

Just to put things into perspective, a friend of mine got made redundant from her employer of 26 years. She got the legal minimum of £2,700. Your settlements are positively lavish by comparison. Be happy.

[Runaway Gun]

Just because someone else has been screwed over, doesn't mean I'm happy about bending over and taking it too.