It depends on PRSI class they are paying. They must be in insurable employment, so Class S does not count. (As in the company cannot reclaim).1. Can directors qualify for statutory severance?
Yes. They can normally get relief on lump sum payment in the same manner as other employees.2. Can directors qualify for non-statutory severance?
You're trying to maximise the tax free amount. My understanding is it doesn't matter whether it's classed as statutory or non-statutory for the person - there's an overall limit. There is a difference to the treatments within the company.but I just can't see where directors are prohibited from getting statutory redundancy (and importantly the personal tax consequences of this.)
Me being pedantic! This isn't my area, but i have an interest in minimising my own tax liability.In relation to the non-statutory element (sorry for being a pain!) but what does "normally" mean
Apologies, you are indeed correct.In relation to the classification not mattering, I respectfully disagree!
According to welfare rules it's purely down to PRSI class. I don't think you could use a different definition for Revenue purposes.Are we saying that they can get statutory or is that still unclear?