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Redundancy after company becomes insolvent


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Hi

I have just been made redundant due to insolvency

What happens to my statutory redundancy and pay in lieu notice if I either start a self employment pretty much straight away or if I can get what I think is available another job virtually straight away.

Regards

Roe

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If you have been given a redundancy notice by the administrators, and if it is effective immediately, then you are free to do whatever you like. You might have to be patient while the Insolvency Service sorts out payment of statutory redundancy etc, but that would be the case whether or not you find alternative employment.

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Thanks for your reply Marmaris30 i think it answers what i asked.

 

However if i find a find a new job can i still get the pay in lieu notice - i have read quite a bit on the internet but it gets a bit confusing but i sense if for example my lieu in notice was 4 weeks and i find a job within that period the insolvency service will deduct those earnings off what i would be due in my lieu of notice - unless i have miss understodd what i have read - which i normally do.

 

Regards

 

Roe

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The statutory redundancy payment won't change.

 

I think you have understood correctly. Notice pay will be reduced by what you can claim in benefits or what you are able to earn in another job.Please see paragraph 19 of this guide: http://www.insolvency.gov.uk/pdfs/guidanceleafletspdf/guideforemployees.pdf

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thanks for your response and the link i think that is me sorted in terms of my question - now just to get that other job or may be take up the self employment work.

 

Regards to all

 

Roe

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