2 articles tagged with Penp.
A plain-English walkthrough of the Post-Employment Notice Pay (PENP) formula HMRC uses to tax PILON, why it exists, and how it interacts with the £30,000 tax-free termination payment threshold in 2026/27.
How ET awards are taxed in 2026/27 -- basic award, compensatory award, injury to feelings, and PENP explained with worked examples.