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Hi
I wonder if anyone can help.
I am due to be made redundant at the end of July and I am trying to find out the rules with CSA. I keep getting differing advice from them.
Basically, I was going to take my initial 30K tax free and not reemploy for a good while. I pay maintenance for 3 children. The remaining redundancy was to be placed into my pension but I have just been informed this may not be allowed under the current redundancy offer so I may end with over £100K in redundancy after tax. Could any one confirm what the rules of payment to CSA would be for this. I keep seeing 65K is exempt but cant work out payment for the remainder. The CSA have been very unhelpful.
Thanks
Which scheme are you under with the CSA ? Was the CSA case opened before December 2003 or after? The different schemes have different rules.
If you check out the stickys at the top of the child maintenance section, theres one called " how does the CSA calculate payments", you will find links there to the three different schemes that are used at the moment.
All existing cases will eventually be moved over to the new scheme.
It would be worth checking with the CSA. I have a recollection that anything over £65k is assumed to have a return of 8% and then you are assessed on this income. I would certainly ask them how much of that redundancy they will allow you to put into pension without being classed as a means to avoid paying maintenance as it's perfectly reasonable that you would want to put some of it away.
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