Written question asked by Madeleine Moon (Labour) on Monday, 10 June 2019, in the House of Commons. It was due for an answer on Thursday, 13 June 2019 (named day). It was answered by Jesse Norman (Conservative) on Thursday, 13 June 2019 on behalf of the Treasury.
Ford Motor Company: Bridgend
- Question
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To ask the Chancellor of the Exchequer, what estimate he has made of the value of reducing tax deductions from redundancy payments to workers at Ford Bridgend; and if he will make a statement.
- Answer
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The Government confirmed in Finance (No. 2) Act 2017 that the first £30,000 of all termination payments remain exempt from income tax. The UK has one of the most generous tax exemptions for termination payments in the OECD, and around 80% of the termination awards made each year will remain completely free from income tax.
HM Revenue and Customs does not have the data available to make an estimate on the cost of reducing tax from redundancy payments for Ford, Bridgend.
Secondary information
- Type
- Written question
- Reference
- 262302
- Session
- 2017-19
- Grouped for answer
- Yes
- Subjects
- Redundancy pay Taxation Ford Motor Company Bridgend
- Contains statistics
- Yes
- Link
- View this Written question on www.parliament.uk
Librarians' tools
- Timestamp
- 2019-06-13 16:28:38 +0100
- URI
- http://data.parliament.uk/writtenparliamentaryquestion/commons/2017-19/262302
- In Indexing
- http://indexing.parliament.uk/Content/Edit/1?uri=http://data.parliament.uk/writtenparliamentaryquestion/commons/2017-19/262302
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- https://search.parliament.uk/claw/solr/?id=http://data.parliament.uk/writtenparliamentaryquestion/commons/2017-19/262302