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<p>The Government confirmed in Finance (No. 2) Act 2017 that the first £30,000 of
all termination payments remain exempt from income tax. The UK has one of the most
generous tax exemptions for termination payments in the OECD, and around 80% of the
termination awards made each year will remain completely free from income tax.</p><p>HM
Revenue and Customs does not have the data available to make an estimate on the cost
of reducing tax from redundancy payments for Ford, Bridgend.</p><p> </p>
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