Being made redundant - need advice

Phoenix37

Hi all,

Hoping you wonderful folk here can help me with something.

I (along with 11 others) am being made redundant on December 31st and the branch is closing. Redundancy payments have been set up, un-used holiday etc. is all in hand.

Where my query is is that I/we are all enrolled in the company bonus scheme (which runs Jan 1st to December 31st) and have been told it will be paid. The problem is that it won't be paid until the end of March.

Is there any kind of timescale whereby monies owed have to be paid by? In addition, I will leave with a P45 showing the tax I've paid up to December 31st and will continue to pay tax according to that rate before paying too much/too little/the wrong amount of tax on my bonus. I certainly don't want to be hit with a massive tax bill because any new employer pays the wrong tax based on an incorrect P45.

I asked HR during a consultation meeting only to be told "we've done it this way in the past and it's always worked" but I really don't see how it can since I can't be issued with a second P45.

Can anyone else offer advice on this please?

mgdavid

surely it's only a problem if the bonus will put your pay for the tax year into a higher rate tax band?