How much tax do i pay on my redundancy payment?Unfair selection for redundancy is a type of unfair dismissal. If the tribunal awards you a redundancy payment, but you do not receive it, ask the redundancy payments office for advice. The basic principles for working our redundancy pay are easily put. Will have to pay redundancy pay to most staff who have worked for more than two years.

For a detailed guide to the redundancy process, go to www. Redundancyhelp. Co. Uk. Some people are concerned that commission payments mean advisers who take them are not fully independent. If your employer has ceased trading but is not insolvent, write to your employer claiming the redundancy payment.

Your redundancy payment is reduced by one- twelfth for each complete month you were over the age of 6. You can use the ready reckoner to help you work out your payment. Receiving a redundancy payment does not affect your right to claim unemployment benefit. However, if you are over 64, the total amount of the payment you receive will be reduced.

A precise calculation of statutory redundancy pay can be made using the ready reckoner on the department of trade and industry's web site. Under the employment rights ni order 1996, your employer must make the payment when or soon after you are dismissed. If you volunteered for redundancy, this will usually count as a dismissal. You do not get any redundancy payment if you were over 6. If this has been agreed in your contract of employment, you may be entitled to non- statutory payments. If your employer is insolvent we will pay you and claim back the payment from the assets of the business. A few groups of employees do not qualify for a statutory redundancy payment.