Redundancy

Johnnyboxer

Member
Location
Yorkshire
I was on the receiving end 10 years ago this very month

My old employer was very fair and generous and paid in excess of the statutory amount

They got the result (shedding staff) and we were happy to go

First £30k is tax (not NI) free

Been a good last 10 years being self employed too

Best thing that happened to me
 
Last edited:

thesilentone

Member
Livestock Farmer
Location
Cumbria
I was on the receiving end 10 years ago this very month

My old employer was very fair and generous and paid in excess of the statutory amount

They got the result (shedding staff) and we were happy to go

First £30k is tax (not NI) free

Been a good last 10 years being self employed too

Best thing that happened to me



Max redundancy pay is just over £15k

Length of service is capped at 20 years. If you were made redundant on or after 6 April2019, your weekly pay is capped at £525 and the maximum statutory redundancy pay you can get is £15,750. If you were made redundant before 6 April 2019, these amounts will be lower.


 

ste

Member
Livestock Farmer
Location
Derbyshire
Max redundancy pay is just over £15k

Length of service is capped at 20 years. If you were made redundant on or after 6 April2019, your weekly pay is capped at £525 and the maximum statutory redundancy pay you can get is £15,750. If you were made redundant before 6 April 2019, these amounts will be lower.



That's the statutory redundancy i.e the minimum that they have to pay by law, there's nothing to stop an employer paying more if they want to, and as has been said up to £30k is tax free. If you fill in the calculator on the Gov site this gives you what they have to pay by law, as age comes into the calculation too (i'd worked at my co for 7 years but was due 9 years worth of redundancy due to each year I work above the age of 41 counting as 1.5 years)

Ours paid redundancy at the statutory rate and outstanding holiday at the full rate (just under twice as much).
 

David.

Member
Mixed Farmer
Location
J11 M40
How we are different; I genuinely felt guilty parting with the cows.
But never for a moment regretted ceasing to be an employer.
 

Johnnyboxer

Member
Location
Yorkshire
Max redundancy pay is just over £15k

Length of service is capped at 20 years. If you were made redundant on or after 6 April2019, your weekly pay is capped at £525 and the maximum statutory redundancy pay you can get is £15,750. If you were made redundant before 6 April 2019, these amounts will be lower.



You are talking statutory pay

Many firms pay far in excess of that for enhanced VR

Some private firms pay 3-4 times that statutory minimum you have quoted - depends how it suits your needs as an employer to 'encourage' staff to choose to leave legally
 

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quote: “Red Tractor has confirmed it is dropping plans to launch its green farming assurance standard in April“

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