The 50-year-old has been at Plainmoor since June 2011 as assistant to Martin Ling and after the former Leyton Orient boss was put on sick leave Taylor was put in temporary charge before the arrival of Alan Knill.
Taylor remained part of Knill's backroom staff as they kept the Gulls in the Football League but shortly after the end of the season Ling's contract was terminated and Knill was then handed the managerial reigns.
"You know the situation with Martin, he is well now and pursuing other things," Taylor told Press Association Sport. "My situation is Alan Knill has come in and I am at this present time on gardening leave.
"I think the best thing to say at the moment, which is the truth, is that I've been put on gardening leave and I'm just seeing what's going to happen at Torquay United."