Redundancy Calculator now on www.mod
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Join Date: Jul 2007
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Redundancy Calculator now on www.mod
Join Date: Mar 2008
Location: UK
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The lump sum looks acceptable until you realise that everything over 30k is taxed 
edit - although apparently they are exempt from tax...
edit - although apparently they are exempt from tax...
Last edited by On_Loan; 1st Mar 2011 at 09:51. Reason: Told by someone in the know
Join Date: Jul 2007
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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!
" 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!
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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
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
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Linky thing doesn't seem to work. Perhaps it has crashed....?
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!
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!
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...
Join Date: Sep 2008
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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.
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.
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..
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..
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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.
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.
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I hope that industry are kind enough to give me a job
Suspicion breeds confidence
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.
