AAT Comment: What bookkeepers need to know about new termination payments
AAT_Team
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in Bookkeeping
Finance (No 2) Act 2017 introduced, among other things, new rules when calculating payment in lieu of notice (PILON) for termination payments.
The new rules apply from 6 April 2018 and aim to remove the uncertainty in the treatment of contractual and non-contractual PILON.
The new rules apply from 6 April 2018 and aim to remove the uncertainty in the treatment of contractual and non-contractual PILON.
Full article.
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Comments
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Great article. Example at the end was very helpful. It's good that finally there's going to be more clarity on the payment of damages/breach of contract.1
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