Increase in Limits Order - Compensatory Award and Redundancy Pay to Increase from 1 February 2008

by Liam

For dismissals occurring on or after 1 February 2008, the maximum compensatory award for Unfair Dismissal is set to increase to £63,000.00 and the cap on a week’s pay (used to calculate Statutory Redundancy Pay and the Basic Award for Unfair Dismissal for those who earn in excess of the cap) is set to increase to £330.00.

Various other limits are also increasing, such as the rate for guarantee pay and the minimum amount for Basic Awards in certain types of case.

Full details can be found here. 

This entry was posted on Thursday, January 3rd, 2008 at 12:05 pm and is filed under Redundancy, Redundancy Payment, Unfair Dismissal. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Similar Posts:

• Basic Award
• Changes for 1st February 2008
• Compensatory Award
• £60.00 “gift” from HMRC for most basic rate taxpayers
• Unfair Dismissal Compensatory Award