David Smith and Richard Johnson (DLA Piper UK) consider the tax treatment of payments and benefits provided to employees in redundancy situations, and set out some of the common areas of tax difficulty and risk.
Pick up any newspaper or turn on any news channel and it becomes increasingly apparent that Covid-19 has already had a profound impact on many organisations across a wide variety of sectors. The hospitality leisure retail and aviation sectors have undoubtedly been among some of the hardest hit but very few sectors are likely to have escaped without some degree of damage or disruption.
As a consequence it is inevitable that many organisations will be examining their workforce populations and seeking to restructure their business operations for a post Covid-19 world with some looking to close down whole parts of their business operations...
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David Smith and Richard Johnson (DLA Piper UK) consider the tax treatment of payments and benefits provided to employees in redundancy situations, and set out some of the common areas of tax difficulty and risk.
Pick up any newspaper or turn on any news channel and it becomes increasingly apparent that Covid-19 has already had a profound impact on many organisations across a wide variety of sectors. The hospitality leisure retail and aviation sectors have undoubtedly been among some of the hardest hit but very few sectors are likely to have escaped without some degree of damage or disruption.
As a consequence it is inevitable that many organisations will be examining their workforce populations and seeking to restructure their business operations for a post Covid-19 world with some looking to close down whole parts of their business operations...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
