Redundancy pay & accrued holiday pay entitlement

Hello,
I would be grateful if someone who knows about these things could confirm if the below is correct please.
Age 51
Time with company 2 years
Wage £42000/PA
Annual Holiday Entitlement 6 weeks, (30 days), (Between 1st April to 31st March each year)
Date of redundancy 31/8/2020

I calculate that I should be entitled to the following;
Redundancy pay £1614 ( I used this  gov.uk/calculate-your-redundancy-pay)
Holiday Pay, ie accrued holidays from April this year = 2.49 weeks = £2011.15.
Total = £1614 +2011.15 = £3625.15

Assuming this is correct I have a couple of further questions,
1) I have been furloughed since March, I had a holiday booked in May which would have used 12 holiday days, however this was cancelled, I did not receive any holiday pay from my employer just the furlough pay of 80% of my normal wage. Does this affect the above calculation in any way?
2) What if my employer does not have the funds to cover the above payments? What are my rights and where do I go?

I would like to work this out amicably with my employer as it is a small company which is going out of business due to Covid19, but I also need to look after my own finances as I am becoming unemployed. Its a horrible situation to be in.

Thanks in advance.

Comments

  • Suddenly remembered the 3rd question,
    My notice period (1 month) is getting paid at 80% ie my furlough pay, is this legal?
  • Thrugelmir
    Thrugelmir Posts: 89,546
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    If the company "goes bust" then the appointed administrator will guide you accordingly. As the Government effectively steps in to cover statutory entitlements that are unpaid. 
  • getmore4less
    getmore4less Posts: 46,882
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    RD2475 said:
    Suddenly remembered the 3rd question,
    My notice period (1 month) is getting paid at 80% ie my furlough pay, is this legal?
    As your contractual notice(1 month) is more than a week longer than statutory notice(2 weeks) the requirement to pay 100% is exempt.
  • getmore4less
    getmore4less Posts: 46,882
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    Holiday
    does the 30 days include the BH?
    I get a little bit more for the holiday, 1 April to 31Aug
    153/366 = 2.508weeks  (days)
    5/12 = 2.5weeks (months)

    Redundancy
    https://www.gov.uk/redundancy-your-rights/redundancy-pay
    at 51 with 2 years service that's 3 weeks pay
    current cap is  £538*3 = £1614



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