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AAT Comment: What bookkeepers need to know about new termination payments

AAT_TeamAAT_Team Administrator Posts: 546
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.

Full article.


reader

Comments

  • readerreader Experienced Mentor MAAT, AAT Licensed Accountant Posts: 1,042
    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.
    AAT_Team
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