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Redundancy, PILON & tax credits
Hi , I've tried posting on benefits board but no replies as yet. I'm facing redundancy with a 4k redundancy and 12 weeks PILON as I've been there 20 years. As I've been a single parent for a 7 years I've received some tax credits an housing benefit. I've tried ringing my local council for advice but they're unable to guide…
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Pregnant & risk of redundancy - what to do?
Just discovered pregnant for 3 months. However, boss at work haven't been impressed by contribution and gave final warning before next quarterly catch up in few months time need to improve or else... Boss haven't officially signalled at risk of being made redundant but do get the negative feeling & vibes from boss. Told…
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Redundancy for the FIFTH time in 22 years. HELP!
I'm a 40 year old man, married, with 2 children and a mortgage. I've had awful luck throughout my career (a variety of design, print and marketing) jumping from one redundancy to the next. I found out last week that it's happening again... for the FIFTH time. Whilst it's often not personal, being told time and time again…
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No notice shop closure, confused and overwhelmed
I was on holiday and had a phone call to come into work today so had to drive 110 miles to get back. When I got in the boss of the shop I have been working at for 13 years hands me a letter and says from today the shop will be closed and I don't have to worry because my job is safe and I will be now working in another one…
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Overpaid redundancy
I accepted a voluntary redundancy offer from my previous employer and left at the end of January. Last week I was sent a payslip including the voluntary redundancy money I was owed but it also looked like I was paid 3 months' salary in lieu of notice. This is on top of the redundancy payment which already included that sum…
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Income protection insurance
Dear All, I started a family late in life and am considering what to put in place to take care of my family in case I lose my job. I have spoken to a few brokers about income protection insurance in case I lose my job, however it seems that only 1 insurance company is prepared to write me a policy because I am a higher…
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Redundancy tax impact
Hi Im trying to understand the tax impact on a potential redundancy payment - can anyone advise? Salary is 48k Redundancy estimate is 100k I understand 30k of which is tax free? Many thanks!
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Redundancy and Re-employed
How does HMRC view this? If your role is redundant and you receive a large redundancy payment and then restart at the same company 2 weeks later in a new role, i am informed you automatically go on to 40% tax. Any thoughts??
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Redundancy and taxation query
How can I calculate taxation on my VR payment given a full year’s salary already received? I’m just about to apply for voluntary redundancy and the terms are, if accepted, that I will need to leave by the end of this financial year (31/3/22). I currently earn £56,000 and would receive two year’s salary as my contractual…
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Would future employers wait on someone working their redundancy notice period?
My boss made it clear he might let me off by a week or so but anything more I’ll not get my redundancy which is 8 weeks pay. Head of HR said any decent employer will be willing to wait on you but then she would say that anyway. What’s your thoughts?
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Voluntary Redunancy Process
To get straight to the point, the business has emailed staff about voluntary redundancy they are looking for over 100 people to apply and they have given us 2 weeks to put in applications. With redundancies expected to happen in new tax year - but if accepted can happen sooner Should they not get the number they want -…
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how soon can you leave after notification and still qualify for redundancy pay?
There is a likelyhood that my role will be made redundant but not for a month or so. I will be entitled to roughly the maximum statutory amount (around 16/17k) along with any notice period pay so it will be a reasonable amount. My questions is, at what point can I 'leave' but still be entitled to the redundancy pay - is…
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Voluntary Redundancy and Student Loan
Hi all, I'm hoping someone may be able to offer some advice around my possible redundancy and student loan. My organisation is currently going through a huge restructure and is offering voluntary redundancy. If I was to take this I would be getting a package of around 33K. I have been trying to find out if I will have to…
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Advice please 16year old and redundancy due to insolvency
I'm hoping someone may be able to give me some advice please? My 16year old has lost her job due to the business going into insolvency. She had no notice and is owed a few hours of holiday pay. It's not a huge amount, but it's still owed. She's received correspondence today with regards to a virtual meeting and the formal…
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Unpaid redundancy money
My daughter was put in the position of having to apply for her own teaching job last year which was duly given to a cheaper newly qualified, she has since left the profession but her union the NEU advised her that she was entitled to 3 years redundancy money, she has never received it, in December the union said there’s…
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Estimated tax on redundancy payment - are my calculations correct?
Hi All, If you were to receive an 80k redundancy payment in the new tax year - how much tax would you be expected to pay? This is what I have calculated, does this look correct? * 80k - 30k (tax free allowance) = 50k * first £12,571 = is tax free * 12,571 - 50k = 37429 (this is taxed at 20%) * 20% of 37429 = £7485.8 Can I…
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Possible Redundancy..... A few Questions
Hello all, Appreciate any help The company I work for is extremely likely to close in the next few months- possibly end of March There is a very real chance that they will not be able to pay salary pay as things stand - never been through this situation before If this is the case and we are made redundant I would advice on…
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Not sure where to post this
I work for a large multinational chemical company, we’ve recently been sold and I’m curious about something. we are now getting paid from a company that was created last year, not the company who purchased us. When you look on companies house it’s says they specialise in sale of assets. Anyone know what this means
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Can you defer claiming JSA?
Hi, If I were made redundant tomorrow and paid 12 weeks notice period in lui, can I defer seeking JSA until mid April? Long story short: I have a foreign holiday (paid for) in early April. I have income protection insurance that says I need to sign up to the job centre to claim (understandable). I do have holiday…
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Do I have to give 8 weeks notice?
So got told yesterday being made redundant end of March. So I asked boss can I look another job now? He told me I can but I have to give 8 weeks notice in order to get my redundancy, is this correct? It doesn’t say anything in my contract about this, if I’m leaving normally without redundancy taking into account I just…
