Company directors and other employees can claim up to 30 weeks of Redundancy pay, which is currently capped at £700 per week and tax-free.
By law, eligible directors are entitled to claim half a week’s pay for each full year of service under 22 years of age; one week’s pay for each full year of service between 22 and 41 years of age; and one and a half week’s pay for each full year of service over 41 years of age. In order to claim redundancy & to maximise your statutory entitlements, you must have at least 2 years of continuous employment.
Statutory Maximum Weeks Pay: £700
Your Redundancy Entitlement is:
*You may also be entitled to Notice pay, Arrears of pay & unpaid holidays
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