A personal Tax Client ( PAYE Earnings 12/13 in excess of £ 100 K ) is to be made redundant within the current tax year.
As part of the package, it has been suggested that the Employer pays £ 30,000 directly into my client's Personal Pension Scheme as well as a "Cash Payment"of
£ 30,000. What are the tax implications for my client of the receipt into his pension pot of the £ 30 K eg. is the overall compensation treated as £ 60 K ??
Any advice on this one would be appreciated !