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Redundancy & redundancy planning

Archives for November 2020

Redundancy & tax due
Hi, Can anyone tell me if the following statement is true or not; After the £30k tax free amount of redundancy has been deducted is the remaining amount taxed @ 40% ? I've been told that redundancy is subject to different tax then your salary and there is one rate and one rate only and that's 40% irrespective of any…
Redundancy minefield
Hi all. I know this information will be 'out there' but it's just all so difficult to find. There is a chance that I am going to be made redundant. I've been on to the government's redundancy calculator and it's told me what I'm entitled to. I've been here for 15 years. But on top of that, should I also get my notice…
Pay in lieu of holidays - is this taxable
Hi, I’ve recently been made redundant after the company I worked for ceased trading. I’ve received my final pay packet from the administrators and done some calculations to check their breakdown of how much pay in lieu of holidays I’m owed against my own calculations. I’ve worked out how much they’ve paid me per hour of…
Messy redundancy process
Hi, I hope you all well and safe :) It would be great if there’s someone with the knowledge, who would help me get better understanding of what companies can and can’t do during redundancy process because I’ve lost the plot and trust that mine is carried out properly. So couple of weeks ago we were provided with the…
Holiday taken, no notice
Hi all, I don’t know if this is the right forum for this topic but here goes. Back when I was on furlough I was still accruing holiday and when it got to July, after hearing nothing from my employer, I emailed HR and they informed me they used 2 weeks of my holiday whilst on furlough and an email had been sent out to…
Redundancy payment timing - unreasonable?
I’ve been made redundant currently working my notice. I’ve got another job starting on the 1st Dec. I asked my current employer to leave early, which “went up” to be approved by the business unit. Bear with me I’m getting there. Today I got paid my usual salary on the regular payment date. I thought I would have got my…
Sudden redundancy help
I have been made redundant today and i have to claim my wage, holidays, redundancy and notice monies from the government. I am panicking as i was due to be paid in 2 days. How long does it take to get each of the payments? I am just mind boggled 😔
Depressed
I know a lot of people are in this position. I have been told I am being made redundant by my present employer. I have been in employment for 40 years or so, continually. I have been with my present company since 1988 and I am truly devastated and depressed by this news. I have never faced this situation before and would…
Notice Pay Reductions
I've been made redundant after 13 years and the company has gone into liquidation. I've got 12 weeks notice to which I can claim after 18th Jan. I've had to start claiming UC (first payment due 3rd or 4th Dec.) Regarding my notice pay. If I don't manage to find a job until, for example, the 11th week. Will I loose all of…
Redundancy and company car tax
So my employer made me and many others redundant on 5th November and told us to claim everything owed from NI trust. Today they sent a letter out saying actually they will pay owed wages from last month and all owed holiday (4 weeks worth) themselves at the end of the month and to only claim redundancy and notice pay from…
Tax on earnings after redundacy
Hi All, Id like to give a scenario which would answer my question about my own Voluntary redundancy tax situation. For simplicity, lets assume no personally allowance and just the non taxable settlement sum without any pay in lieu etc. If someone earns say, £30k after 6 months into the financial year, then receives a…
Employment Tribunal Guidance
Good evening, I am starting a thread for some tribunal advice. Backstory: 9th Sep 2020 - 69 employees were made redundant and company has gone into liquidation 10th Sep 2020 - all 69 employees found out on this day that they were made redundant. Email received in the morning at 10am for all staff members to be on a call at…
P45 confusion
My friend is due to leave his company soon. Apart from his notice pay and annual leave which are taxable. He is also to receive a Termination Payment of £7K. It is stated that this is to be tax free. However on the agreement it is stated that the TP will be paid before receipt of their P45. Is this a contradiction or can a…
HELP NEEDED PLEASE!
Thanks very much!
I want to pay off my son's mortgage
My son been made redundant effective in the New Year and while re-skilling, it is most probable he will need to apply for and be dependent on Job Seekers Allowance and Universal Credit for some time. He has negligible savings and will have no other income; his wife works shift work on a zero-hours contract earning between…
Redundancy and my son's student loan entitlement
Hi all My work is making a round of redundancies and I'm considering volunteering for the voluntary scheme. At the moment I am a higher rate tax payer and my son is at Uni. Unsurprisingly we're not entitled to anything from Student loans except the bare minimum loan and the tuition fees. My question is if I get made…
Can I be made to find work before end of Notice Period?
I've recently been made redundant. I have 12 weeks notice until I can claim my notice pay. Obviously I now have to start claiming UC. Can I be made to find work before the end of my Notice Period?
Redundancy advice
Hi folks, (sad to see this may be a busy board for the foreseeable). My employer had an informal conversation with me mid October regarding the state of the company and the likelihood that it could not survive in the current climate. I was told that I would be given redundancy at the end of December if the company did not…
Redundancy &Tupe
I found out last week that I'm being made compulsory redundant after 17 years. The department I work were outsourced 3.5 years ago. I have worked full time 13 years but the last 4, part time hours to suit family life. The previous employers took into account the years full time and part time worked and calculated on all…
Resigned and then made redundant
My company had been rumoured to be on the verge of administration for the last month or so, so I was proactive and managed to find a new position with a new company. I rang my boss a couple of weeks ago and informed her of my decision and she was supportive given the company’s uncertain status. She told me to send her my…

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Redundancy & redundancy planning

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