The Department for Business, Innovation and Skills (BIS) has announced that the statutory redundancy pay rate will increase on 1 February 2012.
The maximum amount of “a weeks pay” for the purpose of calculating redundancy payments will increase from £400 per week to £430 per week.
When a business makes an employee redundant there are certain procedures that must be followed. If you require any advice please contact our Payroll Team.
January 30th, 2012