Relocation expense

This topic has 1 reply, 2 voices, and was last updated 5 years ago by AverageAndy.

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August 28, 2020 at 10:08 am #582464
anubhutityagi
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I have a query on relocation allowances.. if the employee sell his only house on a short notice at low price in order to join a new employment and employer reimburse an amount of 22k for his loss.. will that be fully taxable or exempt??
August 29, 2020 at 5:13 am #582576
AverageAndy
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I think 22000 should be fully taxable. Any amount over 8000pounds is fully taxable otherwise exempt, if below then fully exempt.

Sir if am mistaken please correct me.
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