Redundancy if liquidated?

ben2909

I have been informed that the company i work for could go into liquidation in the next few weeks if things don't change (not likey to change).
Having looked on the Direct gov site it looks like i will be able to claim redundancy from the Gov as my empolyer won't have assets to cover this.

I have worked for the company for 10 years (11 end of September).

I am a little confused and would be greatfull if someone could answer the following....

Am i right in thinking that once the liquidation has been filed that date is used for the redundancy calculation is made from i.e. at the moment i will receive 10 weeks but if or 11 weeks if it is not filed till Oct?

Would i be entitled to any additional weeks payments due lack of notice?

Also roughly how long would this take to be processed by the Gov.

Is it possible to claim a tax rebate for this year?

Thanks

Noctu

My DH has just been through exactly the same thing. I'll answer what I can although I don't claim to be an expert.

- The date of actual liquidation would be the day your employment is terminated, so if it's in October then you'll get 11 weeks.
- You will get PILON (Payment in lieu of notice) - I would suggest Googling this to see exactly how it works
- My DH's redundancy payment took about a month to come through from the date of liquidation. However you can only apply for PILON (which is a separate payment) at the end of your notice period (i.e. after 10/11 weeks). Be aware that of the PILON amount, if you get a job within the 10/11 week notice period they will subtract those earnings from the total amount you receive. Even if you don't find work, they will subtract what you would be entitled to benefits wise, even if you choose not to claim them.

Sorry don't know about the tax rebate thing.

Good luck.

ben2909

Thank you,at least it gives me some hope of a little compensation for 10years service.

ben2909

Had some more news today.

It looks like company may not be liquidated and i will just be made redundant.

I have worked here since 2nd Oct 2000 and have worked out the following,does this seem correct?

Job will finish end of Aug so i will be entitled to if my wage was £250 per week

10 Weeks notice pay of which 4 weeks i will be working

11 weeks Redundancy (as PILON will take me over 11 years service)

Normal pay for next 4 weeks then pay off as follows

11 x 250 = 2750 redundancy
6 x 250 = 1500 PILON less tax etc..

+ any holiday pay owed up to the end of the 6th week

Is this correct?

Thanks

Jarndyce

Sounds right - assuming you are under 41. If over 41 you get 1.5 weeks for every year over 41. Not sure off the top of my head what the position is now re holiday pay during PILON - others will know - but otherwise your holiday pay would be calculated only up to the end of the 4th week I believe?

re the tax rebate, your tax is calculated on the assumption that you will earn more than the annual allowance (around £7500) in a tax year. If at the end of thetax year you have not earned that amount, you will get the tax that you have paid back. As far as I am aware this happens automatically and you don't have to claim it, but this is not my area so best have it confirmed - just ring your local tax office or HMRC enquiries.

McKneff

Your age comes into it too, if you are over 41 you get 1.5 weeks as a redundancy calc.

Hope you find a job soon.............

ben2909

Yes i'm under 41 (will at least for a few months) so 1 week per year.

I was given notice last friday and had to correct employer as they had only given me 4 weeks notice.
They have now given me 10 weeks notice so this takes my redundancy to 11 weeks.Looks like they want me to work all my notice unless they let me go a few weeks earlier.

getmore4less

Tax look up p50, you have to delay JSA though to do that.

If you claim JSA then that will get adjusted(its taxable) and further adjustment on new job or end of year.