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Tax on Termination Payments (ITEPA 2003)

Section 401 ITEPA 2003 charges any payment received “directly or indirectly in consideration or in consequence of, or otherwise in connection with” the termination of employment. The first £30,000 is exempt (s.403); the excess is taxed as employment income, deducted at source, with employer Class 1A NIC but no employee NIC. Contractual payments and post-employment notice pay (ss.402A-402E) are earnings in full. A non-contractual payment for loss of office is not an emolument: Mairs v Haughey.

The net is wide, and the taxpayer carries the apportionment. A factual connection with the termination is enough, and settlement negotiations do not break it (Mathur v Revenue and Customs Commissioners). Settling claims that arise from a dismissal ties the whole payment to the termination; no close nexus is needed (Everson v Revenue and Customs Commissioners).

Injury to feelings. HMRC accepts (EIM12965) that compensation which “can reasonably be attributed solely to discrimination occurring before the termination” falls outside s.401, provided it stays proportionate to the Vento bands. Injured feelings connected with the termination are taxable: since 2018/19 s.406(2) provides that “injury” includes psychiatric injury but not injured feelings, reversing the earlier position considered in Moorthy v Revenue and Customs.

Psychiatric injury remains exempt under s.406(1)(b), but needs medical evidence; in Everson the exemption failed without it. On the old requirement that the injury prevent work, see Horner v Hasted (Inspector of Taxes) and Moorthy.

Confidentiality and non-disparagement. These are restrictive undertakings within s.225, and a payment for them is taxed in full with no £30,000 exemption. In Mrs A v Revenue and Customs a £1,055,000 harassment settlement was taxed that way. Agreements commonly allocate a nominal sum to the undertakings and state that no other part of the payment is made for them.

Legal costs. Section 413A exempts the claimant's legal costs incurred exclusively in connection with the termination, but only where the settlement agreement provides for the employer to pay them directly to the employee's lawyer; £400,000 was exempt on that footing in Mathur.

HMRC's own guidance is that “best practice is for the agreement itself to set out what each element of the termination payment relates to”. On grossing up tribunal awards, see Yorkshire Housing Ltd v Cuerden and British Transport Commission v Gourley.

Key provision: Income Tax (Earnings and Pensions) Act 2003, ss.225, 401, 402A-402E, 403, 406, 413A; HMRC Employment Income Manual EIM12965

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