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[Vamps]

No, not me, sadly...............

Master Vamps has worked for this company for almost 4 years, today he has been told that the company is going to cease trading, it hasn't gone bankrupt but there is no money in the company...........

My question is; is he entitled to any redundancy / severance pay? assuming they have the money to pay it........

It is / was My brother and his wife's company, tbh the writing has been on the wall for a while as my brother returned to 'Trucking' some months ago, so no heavy handed tactics will be used......

[Vamps]

Sorry, wrong section...... Would admin please move to general chat, thank's......

[RobG]

If the company is skint he can claim redundancy, notice and holiday payments via the approved government scheme

[Marks DTM Calib]

Admin note - Moved as the originator is going senile

[Ever Ready]

How old is Master V?  If I remember correctly Redundancy entitlement begins at 18 then half a weeks wages for every year until 21 then one week for every year up until 41 then a week and a half for every year until the end

https://www.gov.uk/calculate-your-redundancy-pay

Will tell you all you need to know

HTH

[Vamps]

Admin note - Moved as the originator is going senile

You have been talking to swmbo.......

[Stemo]

As has been said, there is a government scheme for this.

[Marks DTM Calib]

Pay is capped at £450 per week. Length of service is capped at 20 years.

The maximum amount of statutory redundancy pay is £13,500

Years of service or earnings over these amounts aren’t included in the calculation.

You can’t get less than the statutory amount but you may get more if your employer has a redundancy scheme. Redundancy pay up to £30,000 is tax-free.

Your entitlement is 2.0 weeks.

You get:

0.5 week’s pay for each full year worked when you’re under 22
1 week’s pay for each full year worked when you’re between 22 and 41
1.5 week’s pay for each full year worked when you’re 41 or older

[Vamps]

Thanks for the advice and link, he is rising 22 so about 2 weeks max..........

I said to swmbo there is very little you can't find out on here......

[Ever Ready]

He's young so hopefully he will spring in to another job, tell him if he thinks it is hard wait until he gets proper old and it's flippin' murder

[Marks DTM Calib]

So nine hundred pounds on the government scheme (if hes earning more then 450 a week)

[Ever Ready]

He will be entitled to a notice period or money in lieu of notice

He may have had the notice or there may be no wedge for that

I don't think the gov covers lieu of notice money

[Vamps]

So nine hundred pounds on the government scheme (if hes earning more then 450 a week)

I don't think he earns much more that the minimum wage, regardless of how much overtime he worked, that said he is tight and has good bank balance for a young lad......

[Vamps]

He will be entitled to a notice period or money in lieu of notice

He may have had the notice or there may be no wedge for that

I don't think the gov covers lieu of notice money

He is under notice now, this is likely to be at least a month as they have to give notice on the 'Unity' they lease, now on a month to month deal......

[Stemo]

So nine hundred pounds on the government scheme (if hes earning more then 450 a week)

I don't think he earns much more that the minimum wage, regardless of how much overtime he worked, that said he is tight and has good bank balance for a young lad......

Daddy's boy.