Redunancy payments - Loyalty payments

robforcash

I work for a company that entered administration back in October.

We have been offered a loyalty bonus so that we stay to the end of the administration process before they disolve the company. The bonus was originally 10%, but has been increased as the remaining numbers have gone and is now 25%. This will paid as a bonus, not a redundancy payment so we will be taxed on it. If we hand our notice in, we lose all entitlement to the bonus.

Most of us left haven't been here for 2 years (the company was only 3 years old) and so we won't be getting the additional assistance from the gov't when it does all end, so losing the tax on the payment could make a huge difference to us.

As we about to enter a critical phase in the winding down, there is scope to re-negioate the 'loyalty package'. I was wondering where we stand in what we can ask for. We would be happy for it to be changed to a redundancy payment as this increase would make a difference to us, but not to the administrators. Can we be paid a redundancy payment if we've haven't been there 2 years?

Thanks in advance for your assistance.

Rob

robforcash

Any advice would be greatly appreciated