Many new businesses are financed with the proceeds of redundancy cheques, but few make use of the top slicing relief that applies to the taxable element of lump-sum payout.
It is, however, good practice for start-ups to learn as much about the tax breaks and incentives they can avail of, as they do the tax charges they are liable to pay.
In the case of redundancy, for example, the relief applying to the taxable element...
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