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We will assess your claim, and tell you the likelihood of success based upon our experience. We will only take your case on if we believe you have a strong case for applying to the National Insurance Fund. If we don’t think you are likely to succeed, we’ll tell you. We’ll give you a best estimate of the amount you are likely to receive at the beginning of the process, and again once we have all of the documentation required.
Your redundancy entitlement is calculated using the number of full years’ service that you’ve given the company, your age and your weekly salary amount up to a maximum of £538 in the tax year ending 5 April 2021. For redundancy payments, a maximum of 20 years service (or 30 weeks redundancy if you were over 41 for all of those 20 years) will be considered. Your notice, unpaid wages, and outstanding holiday will be paid subject to the statutory weekly limits and amounts as above.
The payments that the National Insurance Fund covers are:
• Redundancy — up to a maximum of 20 years’ service
• Loss of Notice — up to a maximum of 12 weeks
• Unpaid Wages — up to a maximum of 8 weeks
• Outstanding holiday pay — up to a maximum of 6 weeks
Your application can only be submitted once the company has gone into liquidation. We can recommend a liquidator if you haven’t already instructed one.
We’ll aim for submission as close to this date as possible. This may be delayed where we are waiting for documentation in support of your application e.g. your P60s, company bank statements etc. however, we will always aim for your application to be submitted as close to the liquidation date as possible.
The Redundancy Payments Service usually requires approximately six weeks to process your application. Employee claims can usually be processed in one to three weeks; however, directors’ claims do take longer to process, as there is a higher level of supporting information required.
Once notification of payment has been received from the RPS, the monies should be with you within eight working days.
We keep it simple. It’s 15% plus VAT of the net payment that you are awarded (nb the net amount less tax and NI deductions etc at source). Our fees will only be payable once you have received payment from the National Insurance Fund. You can find a working example at the bottom of this page.