Changes in Statutory Rates
For calculating statutory redundancy the rate rises from £380/week to £400/week with effect from 1st February.
When calculating redundancy pay for any redundancies happening on or after 1st February you need to use the new rate. Please remember that if the employee's salary is less that the statutory minimum then you use their actual salary to make the calculations.
If you want to make sure that you fulfil all your obligations when making staff redundant then contact us
to see if we can help.