Tax Rebates & Refunds

When redundancy brings your retirement plans forward unexpectedly

September 25, 2011
Posted in Tax Rebates — Written by Chris

If you are coming to the end of your working life and getting ready for an early retirement of sorts, then it is possible that your tenure at your current place of work will come unexpectedly early because of the current situation a lot of private businesses, charities and public sector organisations have found themselves in.

Finances are tight for all sorts of organisations and redundancies are being handed out with greater frequency across all industries. This means that people approaching the age of retirement are often approached with a view to taking redundancy in light of their position.

Whilst retirement is something a lot of people look forward to, if it comes early in the form of a redundancy it can have an effect on your plans. You may even need to look for a new part time opportunity to see you through the time between your redundancy and the age when you would have retired according to your own plans.

You will almost certainly be entitled to a tax refund if you are made redundant part way through the tax year. This is the sort of thing that can help you to bridge the gap financially.

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