Some three years ago our new client Jack was offered (PAYE) employment on very favourable terms including a ‘golden hello’ of £100 000. It was specifically stated that if this employment did not run for a term of at least three years then the payment would have to be repaid on a gross pro-rata basis.
I understand that Jack’s position was as a senior and highly-paid executive – sales marketing and negotiating – but the employment only ran for about 18 months and he was therefore required to repay £50 000 of the payment that he had already received.
I understand that Jack took up similarly high-paid employment with another employer pretty well immediately.
Jack prepared his self-assessment tax return for the year ended 5 April 2007 and claimed tax repayment on the basis of the £50 000 that he had repaid to his former...
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