Are my Calculations Correct

GemBlueTopaz1984

Hi Guys and Gals,

Just want to check I've got my numbers right, my partners stepdad has been told his company has gone under leaving him redundant, now we should be pros at this by now as my partner and his stepdad worked together 2 years ago at another company that the same thing happend but it was better organised ie insolvency practitioner was there when they were told and they were given the RP1 forms to fill, and then 2 months later I got made redundant but it was just normal redundancy my employer paid my redundancy. Anyway I figure from memory that he gets 1 week for every year redundancy and a week for every year notice (he's been there 2 years), so 4 weeks pay total, plus any holiday pay due and upaid wages. Is this correct and have I missed anything.

Thanks for your time in answering

gem

jazzyman01

He must have actually completed 2 years to get the redundancy payment. It depends on his age. If between 21 and 41 then he will get 1 week for each completed year of service capped at £400 per week. This payment is tax free. Notice is either 1 week for each completed year of service or contractual, whichever is the higher, and is taxable. If the company insists on individuals working the notice, then this obviously would not apply. You are right in regard to pro-rated holiday pay and unpaid wages.

McKneff

Yes, I agree with Jazzyman01, spot on there.