It’s been an unusually bad week for job news with Aviva, Santander, Ford, and BT announcing closures and downsizing that will affect thousands of workers.
If your employer is insolvent, applying for redundancy pay can be a confusing and worrying time, especially if it’s the first time you’ve done it and you’ve got a lot of questions around it like how long will it take, what evidence do I need to provide and how much would I be eligible for?
You will eventually have to apply to the Redundancy Payments Service (RPS) who will formally assess your claim and pay you any money you’re entitled to.
Before you do that however, you should speak to one of our expert advisers who will be able to prepare you for the process, discuss your situation and give you a firm idea on your eligibility and your probable payments.
There are some set limits regarding payments including a statutory cap of £525 a week (£508 if you were made redundant before 6 April 2019). There are also additional limits on other types of compensation such as loss of notice and protective awards.
We will also make you aware of other unexpected factors including that payments for holiday pay, arrears, loss of notice and protective awards have to be taxed for income tax and National Insurance Contributions.
Even if you are fully confident that you are eligible for redundancy and know your various rights, have a chat to us. We’re experts in redundancy practice, procedure and law and could well be able to spot some entitlement you’re eligible for but have overlooked.