2nd Redundnacy in 7 years

[drom1]

I was made redundant 7 years ago and at the time had an option of paying tax or taking it tax free. If I took it tax free and was made redundant again within 5 years I would automatically have to pay tax the 2nd time round. After 5 years I wouldn't have to pay tax.
I opted to take it tax free based on thinking it was save enough to assume I wouldn't be made redundnant for the next 5 years. I am now in a position 7 years later where I potentially will be made redundant again and I see from the revenues web pages that they changed the 5 years to 10 years in 2002 which would mean i would be liable for tax! Is this correct considering I took the decision 7 years ago to take it tax free when the rules were 5 years.

 

[rainbows]

I'd ring the revenue commissioners to get a definite answer. They're actually very helpful and it'll give you a quick answer. Best of luck!

 

[pennypincher]

I was in a similar position here it goes,I'll round figures to nearest K.If you claim your once every 10 year exemption not to pay tax and then get made redundant again within 10 years your allowance changes,you are still entitled to a 10k(Different than the one above) exemption plus 765 Euro for each year worked.
If you had not claimed the once every 10 year exemption you would have 10k+10k+ 765 euro for each year worked tax free