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Money owed by company in liquidation
Hi all, I hope I'm in the right place! My husband lost his job at the end of last year when the company he was working for folded. He was owed money (about £1500) in unpaid wages but given the way the company ended and the lack of communication we assumed there was no hope of receiving this. I'm now wondering if that is…
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Being made redundant with savings
Hi Guys & may I thank any bit of advice in advance I'm 46 & am looking to be made redundant but im in the following predicament (I must apologise as I know there are people in a lot worse situations than me), but I'm in need of a bit of advice. My boss has always been a bit craft with money & paid me an amount into the…
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Calculating figures for Redundancy - PILON and average pay
Hi all, I've been advised I am "at risk" of redundancy and have had a first consultation with my Head of Operations and HR Rep. I did not have a rep present as I was given short notice, but will moving forwards as I think they are making mistakes. I have been advised I will receive 3 months pay in lieu of notice, and this…
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Sign-on bonus payback in the event of redundancy
Hi, I received a large sign-on bonus when I joined my current employer earlier this year. In the first 8 weeks they started making a small number of redundancies (not in my area), and although I've been told those in my area are 'as safe as houses', I am obviously concerned about what is around the corner. I have two small…
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Will I pay higher rate of Tax on PILON (pay in lieu of notice)
Hi Newbie here, I am about to be made redundant and part of the package is a PILON payment of 11 weeks pay (£6966.85), as I don't have to work the notice I will receive this as a lump sum. As such, will I pay a higher rate of tax, because it looks like my monthly pay has jumped massively and push me into a higher tax band,…
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Redundancy and eligible benefits
I have been told my job is at risk. I'm preparing myself for the worst.. My question is can I claim jobseekers allowance or any other benefits in the event that I am made redundant ? Please advise. Thanks
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Redundancy tax free payment
When you're made redundant is the tax free element of your redundancy put on your P45? Also will receiving the tax free cash have an effect on the married couples tax allowance?
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PILON/Student loan issues
Hi everyone, Following a redundancy in May I believe the tax I paid in terms of income tax was calculated wrong, as was student my loan repayment. A normal month for me would be as follows: Gross pay: £2,829.16 Income Tax: £356.20 Student loan deduction: £103 As I'd only been with my company for 15 months, the redundancy…
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Being made redundant
I am (probably) being made redundant, but not for another 8 months or so. When should I tell my unemployment insurance provider? I'm worried if I tell them now that they will then refuse to renew my insurance later in the year, but if I wait until after the renewal could they then refuse my claim as I was aware of…
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Redundancy planning help
Hi I’m due to leave my company in march 24 and I have two questions.. 1. Would I be better off hanging on until after April 6th new tax year as I won’t be working for at least 6 months as I’m going travelling.. this would mean my redundancy payment (50k) would be paid in 24/25 tax year so only £20k taxable at lower rate..…
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Redundancy - Paying tax on notice period not worked
Hi All, Can someone please help me with a tricky issue? I recently took voluntary redundancy from work and as part of the settlement agreement, it was agreed that I wouldn't have to work my notice period. Neither would I be paid in lieu of the 3 month notice period. However when i received my settlement payment, I found…
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Planned removal of the older workers
Hi, We work in a situation where it would be preferable from the employers and the clients perspective if my area of the workforce are each less than 50, for appearance and perceived currency in the role. I suspect my company may be looking to over-employ in my role, using a busy period to justify new positions, to then…
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Mortgage help - your experience
TL:DR mortgage company only offering “bad” support due to redundancy. I was made redundant (through no fault of my own) at the end of March. I was lucky enough to have 2 months notice and some rainy day savings. It has now got to the point where I need to start reducing out-goings to enable me to keep the money in order…
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Joiner/leaver adjustment on final pay slip?
Please can anyone advise if they have any knowledge of joiner leaver adjustment being applied on a final pay slip? I have never heard of such a thing previously, and it amounts to about a month's salary being deducted from my final pay. I have done a quick google which hasn't been much help, most of the results seem to…
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Redundancy, future employment and tax implications
I was made redundant on the 29th May and stand to receive just under £55,000 redundancy pay. I have secured another job which I start in a couple of weeks with a £25,000 salary. I am aware that the first £30,000 of redundancy will be tax free therefore my total income for the year will be just under the 40% tax bracket.…
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Cn number
Hi my wife has recently been made redundant due to the company being declared insolvent the administrator told her on the 28th they would be sending her an redundancy pack with the CN number so she can claim from the insolvency service. She has still not received this ? How long should it take? Others have phoned them and…
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Redundancy and SGP
On 2 feb 23 I received a letter from my manager telling me I was being laid off with immediate effect in accordance with my contract as the company has lost contracts. The company has laid off 50% of the staff nationwide. I have 9 years service with this company and for the first 5 weeks of lay off they paid me…
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Redundancy Notice Question
Hi - I am looking for some advice on redundancy notice, The entire staff of my company received a round robin email saying that the company was closing and their notice periods would begin from Friday 12/04. This would be followed by individual letters and consultations outlining individual circumstances. So far no one has…
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Seems none of my coworkers have been happy after redundancy?
Wondering if this is the norm, had a meet up yesterday with my former colleague after we got made redundant in March. I thought I was the only one struggling with my new job, 1 guy lasted couple of weeks decided he was gonna take early retirement, another guy walked out after a month, these two guys alone each worked over…
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Works pension
Hi, I’ve got a query about my works pension. In my old job I was off sick for over a year and laid off. They offered me a redundancy package that I took. my pension is considerably working out way too low compared to my ex co workers. One of my ex work mates pension will be over double per month than mine and she only had…