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Redundancy & redundancy planning

Archives for June 2010

Can redundancy payment be invested into company pension?
Hi...I understand that the first £30k of a redundancy payment is tax free, but understood that the remainder of a payment can be re-invested into the company pension to avoid paying 40% tax on it. My company now says the Govt have stopped this happening. I'd apprec any advice please, as if being made redundant, this money…
Working Redundancy Notice But Given Additional Work?
I have been given notice of redundancy however since this happened I have been asked to do a number of additional tasks. I cannot get my head around how they are saying my position is redundant and then I am given extra work. Can they do this? Also how much time off are you allowed to look for employment?
Are Mortgage Insurance Payments taxable?
Hi - wonder if anyone can help with this. I was made redundant about a year ago and have been claiming mortgage protection insurance. Is this taxable? I had an unpleasant surprise to discover that JSA was, and am very much hoping that my insurance isn;t, as I paid for the premiums out of taxed income. Thanks
made redundant with low bradford points score
I have just been told i am being made redundant with a low Bradford score of just 36, they looked over a 3 year period to get to this number.Surely this awful formula was never intended for this purpose & is just an abuse of the system,please any advise would be very grateful.
redundancy, JSA etc help required please
Hi, I am being made redundant and my last day in the office is 30th June and then I will be on 3 months garden leave. Can i claim my contributions-based JSA from 1st July or do I have to wait for my garden leave to end? Also can you get prescriptions free when you are claiming JSA? what about NHS dentistry - will i get…
Redundancy - Voluntary Severance Advice
Hi, I have taken voluntary severance from work and I need some advice. 1. In the voluntary severance package the notice period payment and the performance related pay is taxed. As the voluntary severance package is under £30,000, shouldn't the whole package be tax free? 2. Do I need to sign on at the Job centre? This is…
PILON-When do I sign on?
Another quick question... I'm being made redundant at the end of June with 12 weeks payment in lieu of notice. As i understand it this will have all income tax,ni and pension payments deducted,just as if i had still been working. Is that right? Anyway, when do i go and sign on? Straightaway or after the 12 weeks is up. I…
Consultation dragging on
The company I work for was bought by a larger firm last year, and in May they started a 90 day consultation as the site might have been (is) closing down. In most cases, roles will be redundant within the 90 days, however in my case my role will be redundant in October (they have not yet confirmed this, but that's a fact).…
Redundancy and Compromise Agreement
Hello, I am going to be made redundant at end of June. My employer is preparing a compromise agreement and is offering double the statutory £6000 + 12 weeks. They want me to sign a provisional agreement agreeing to the above amounts before actually drawing up the C.A. I think they went about my redundancy all wrong,didn't…
Voluntary Severance - tax implications of temping for former employer
At the end of 2009 I took voluntary severance in order to pursue a career change. I received several thousand pounds tax free as part of my settlement, which was paid to me in January this year. After a period of unemployment and in full time training I will be starting a new job in my chosen career in September, but will…
Made Redundant on Maternity Leave
Hi all, Sadly the company I worked for has gone into administration and as a result I have been made redundant. I have been on maternity leave since November last year (my son was born in December). My question is, am I entitled to payment in lieu of notice if I am on maternity leave? I have received redundancy payment…
Alternative to Redundancy - Tax Question
My employer has proposed an alternative to redundancy using a scheme called an Incentivised Leavers Plan which is a years salary across the business. The issue is they have applied to HMRC for tax rules relating to this, they state it is not redundancy so does not fit with the usual redundancy tax rules so may have a…
Royal mail office closing
I work at a mail center which is about to close ,they are offering voluntary redundancy to those over 55 only. RM want other staff to travel 70 mile round trip to the new office even those who want VR and dont want to go to the new office. By employment law is it reasonable for RM to expect people to travel that distance.…
Do I take out mortgage protection cover?
My wife's job finishes in 18 months time. She works in research so her contract is always a long term rolling one. In 2008 she was told the job would be safe until 2012 but that further funding may be avilable. The funding is not going to be available so her job will be over in 2012 although she has had no formal written…
In a bit of a mess - advice would be good.
Hi, this is my first post here, I will try and keep it simple in explaining our situation. My DH has worked for the same company for many years, as the sales and customer service manager, he is 57, the company has now gone bust due to the MD using company money for his own use. Where it gets complicated, is that my DH was…
Info required
worked for the same engineering company now for 25 yrs setting programing cnc lathes, involved in all aspects of purchasing new machines etc, 4 years ago was asked to work in the office quoting jobs plannig routes through shop talking to customers etc. Feb 09 the recession hit all productive staff voluntarily accepted a…
PILON do I have to pay it back if I find work?
The background. Our company is about to bite the dust probably this week. It looks like there will be no formal notice of redundancy. There also looks like there will be no money left in the company coffers to pay our owed pay (1-2 weeks worth, overtime or expenses - about 9 months' worth). Most of the staff can find some…
need benefit advice pls
Hi, can anyone offer advice please. I am being made redundant at the end of July Have received a payout through compromise agreeement and have letter from employer stating redundancy. I will have with savings and severance which i will use to live on whilst i look for another job Are there any benefits I can claim, is JSA…
Consultation meeting and interview panel
Hello everyone, Long time lurker here, first time poster. Looking for some advice concerning redundancy please! Today my other half was notified of a possible redundancy, in that everyone in her department will have to reapply for a slightly modified version of their current job. There are currently more people in the pool…
Employer to cut my hours
Hi can you help me, My employer has phoned today to say they want to cut our hours. I currently work 16 hours per week of which I work three morning per week. My employer has said that the branch I work at they now want to only keep open from 9am - 11am and from 3pm - 6:30pm Mon - Friday as they are in financial…

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Redundancy & redundancy planning

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