Redundancy ?

diddldonna

I have been told today where i work is likely to close and we will be made redundant, not right away but soon. I have worked at the company for 6 years, i worked 4 years part-time contracted and now 2 years full time contracted.

What am i entitled to get? Will i get redundancy on my current wage or will it be at a part-time rate for 4 years and full time rate at 2 years.

I am finding it all a bit confusing at the moment and trying to get a clear understanding of where i stand.

McKneff

You get redundancy pay on the hours you work now.

1 weeks pay for each full year of work. If you are over 41 it will be 1.5 weeks pay.

1 weeks notice for every full year you have worked for the company.

Any accrued holiday pay. They can insist that you take holidays during your notice.

All the above is statutory, your company cannot pay you any less than this. But they may offer you more, it depends on what is in your contract.

diddldonna

Thank you, it helps me feel a little bit better knowing what i can get as just feeling numb emotionally at the moment.

Also do you pay tax on redundancy pay?

Uncertain

diddldonna wrote: »

Also do you pay tax on redundancy pay?

The first £30K redundancy is tax free. You are however taxed as normal on pay in lieu of notice and holiday.

saintjammyswine

You can also access free training to help you (if required) into new employment. Contact JCP or your local FE College and ask about ESF Response to Redundancy funding.

diddldonna

saintjammyswine wrote: »

You can also access free training to help you (if required) into new employment. Contact JCP or your local FE College and ask about ESF Response to Redundancy funding.

Will do thanks ever so much x