- Original Poster
- #1
Hi
I have some rather detailed questions about director redundancy payments after the insolvency of my limited company. I hope someone who knows their stuff can be bothered to read this lengthy tome!
Some of the facts and figures have been edited a little so as to protect those involved.
My company was made insolvent on 26th October and is now in the hands of the liquidator.
I drew a directors salary from the company since 1st November 2015.
When I claim my redundancy, notice period and holiday pay, I am confused as to what info to give the Redudnancy Service.
For instance - did I give myself a months notice on 26th September? Or was I given no notice and my employment ended on the insolvency of the company on 26th October? And then I would claim my notice period from 26th October?
I wasn't paid for October (but should have been if the company wasn't insolvent), so if I put a redundancy date of 26th October will I shoot myself in the foot because I won't have a payslip for October, and wasn't paid anything?
I have asked my contact at my IP firm, but as with a lot of my questions to him, he responds with a 'it's your decision' answer - which is unhelpful and I dont know whether he simply doesn't know himeslf, or he is duty bound not to advise (I seem to have been handed down to someone relatively inexperienced).
Additionally, the IP suggested the insolvency date of 26th October. It was only on turning my attention to my redundancy pay that I realised that I was actually almost another full year to my anniversary of employment, the 1st November, missing it by only a few days.
It appears to me in hindsight that if they had booked in the insolvency date literally 4 days later I would have been entitled to an additional year of redundancy - which would be 1.5 weeks redundancy pay, 1 weeks notice and 1 weeks holiday pay!!!!! Is that correct? I suppose it depends on the answer to the first part of this question, and what dates I am made redundant and what date my notice period claim is from.
The date they set was arbitrary so another question is: are they deemed under their duty to shorten the insolvency period as much as possible to decrease any redundancy payments..- or did they simply not even clock it and overlook it because they are a bit crap and / or basically don't care whether I get an extra years redundancy payment or not..? (Which is a bit rich considering the fee I have paid them).
And finally - is there anyway I can get them to either move my employment start date back to October 26th 2015 or anything? My initial calculations show I may have lost out on £1200 statutory redundancy pay just because they put the final Insolvency meeting 4 days earlier. (And considering I have just gone bust, that money would have been pretty useful...)
Cheers
RD
I have some rather detailed questions about director redundancy payments after the insolvency of my limited company. I hope someone who knows their stuff can be bothered to read this lengthy tome!
Some of the facts and figures have been edited a little so as to protect those involved.
My company was made insolvent on 26th October and is now in the hands of the liquidator.
I drew a directors salary from the company since 1st November 2015.
When I claim my redundancy, notice period and holiday pay, I am confused as to what info to give the Redudnancy Service.
For instance - did I give myself a months notice on 26th September? Or was I given no notice and my employment ended on the insolvency of the company on 26th October? And then I would claim my notice period from 26th October?
I wasn't paid for October (but should have been if the company wasn't insolvent), so if I put a redundancy date of 26th October will I shoot myself in the foot because I won't have a payslip for October, and wasn't paid anything?
I have asked my contact at my IP firm, but as with a lot of my questions to him, he responds with a 'it's your decision' answer - which is unhelpful and I dont know whether he simply doesn't know himeslf, or he is duty bound not to advise (I seem to have been handed down to someone relatively inexperienced).
Additionally, the IP suggested the insolvency date of 26th October. It was only on turning my attention to my redundancy pay that I realised that I was actually almost another full year to my anniversary of employment, the 1st November, missing it by only a few days.
It appears to me in hindsight that if they had booked in the insolvency date literally 4 days later I would have been entitled to an additional year of redundancy - which would be 1.5 weeks redundancy pay, 1 weeks notice and 1 weeks holiday pay!!!!! Is that correct? I suppose it depends on the answer to the first part of this question, and what dates I am made redundant and what date my notice period claim is from.
The date they set was arbitrary so another question is: are they deemed under their duty to shorten the insolvency period as much as possible to decrease any redundancy payments..- or did they simply not even clock it and overlook it because they are a bit crap and / or basically don't care whether I get an extra years redundancy payment or not..? (Which is a bit rich considering the fee I have paid them).
And finally - is there anyway I can get them to either move my employment start date back to October 26th 2015 or anything? My initial calculations show I may have lost out on £1200 statutory redundancy pay just because they put the final Insolvency meeting 4 days earlier. (And considering I have just gone bust, that money would have been pretty useful...)
Cheers
RD
