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Redundant - Help On Tax and Holidays

loafy
Posts: 7 Forumite
Ok here goes.
I work for a construction company, and at christmas time I was put at risk.
Tomorrow I am due in to see HR, and be told I am being made redundant, but i have a few questions.
First of all I have worked for the company 16months as of tomorrow morning, so I know i am not entitled to any redundancy pay as such.
My notice period is 3months and my contract states the following:
"As a member of Management Structure you are required to give the Company three complete month's notice of termination of employment which may begin at any time during a month and end on the same day three months later.
The company is required to give you three months notice to terminate you employment which may begin at any time during a month and end on the corresponding day three months later.
The company reserves the right to terminate employment without notice in cases of serious misconduct."
Now my first question is my company isn't asking anyone to work the notice as there is no work for them to do. So if i took the 3months wages as a lump sum there and then, would i taxed on the sum? I have looked on the net and some people say yes and some say no as its PILON (Pay In Leu Of Notice).
I am also owed holidays from last year which was 5 days, our holidays run jan to dec.
So if i take last yrs 5days that takes me to end of january which makes my end date 3months later, end of April.
Our company also states that for every completed month we get 2 days holiday, so having finishing end of april means i would have accumulated 8 days. So the question is am I entitled to the 8days holiday paid to myself?
I want to go in with the full facts so I know what I am up aganist.
Also if they did for some reason ask me to work my notice and i find a another job durning that time, can I leave and be paid the remaining of my wages if i opt'd for the monthly pay?
Cheers
I work for a construction company, and at christmas time I was put at risk.
Tomorrow I am due in to see HR, and be told I am being made redundant, but i have a few questions.
First of all I have worked for the company 16months as of tomorrow morning, so I know i am not entitled to any redundancy pay as such.
My notice period is 3months and my contract states the following:
"As a member of Management Structure you are required to give the Company three complete month's notice of termination of employment which may begin at any time during a month and end on the same day three months later.
The company is required to give you three months notice to terminate you employment which may begin at any time during a month and end on the corresponding day three months later.
The company reserves the right to terminate employment without notice in cases of serious misconduct."
Now my first question is my company isn't asking anyone to work the notice as there is no work for them to do. So if i took the 3months wages as a lump sum there and then, would i taxed on the sum? I have looked on the net and some people say yes and some say no as its PILON (Pay In Leu Of Notice).
I am also owed holidays from last year which was 5 days, our holidays run jan to dec.
So if i take last yrs 5days that takes me to end of january which makes my end date 3months later, end of April.
Our company also states that for every completed month we get 2 days holiday, so having finishing end of april means i would have accumulated 8 days. So the question is am I entitled to the 8days holiday paid to myself?
I want to go in with the full facts so I know what I am up aganist.
Also if they did for some reason ask me to work my notice and i find a another job durning that time, can I leave and be paid the remaining of my wages if i opt'd for the monthly pay?
Cheers
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