A payment given to someone who is made redundant or retires early.
- The Inland Revenue has intervened in respect of termination of employment contracts to prevent golden handshakes being used as tax avoidance devices so that payments of over £30,000 are subject to tax in the claimant's hands.
- Then there were the retirement packages and golden handshakes.
- Salaries did not change significantly in quarter three, although golden handshakes and guaranteed bonuses have almost disappeared from the offer table.
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