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Re: Directors' redundancy. Any experts?
[Re: Jim_Clennell]
#1645046
10/10/2020 15:39
10/10/2020 15:39
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Joined: Dec 2005
Posts: 6,731 Surrey
Emjay
Forum is my life
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Forum is my life
Joined: Dec 2005
Posts: 6,731
Surrey
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Hi Jim,
In reality, there is no such thing. What there is, is the ability to claim a redundancy payment if you are an employee (as well as holding the office of director). As a director it can arise if the company is being wound up (it can arise in other circumstances, but HMRC may query how genuine it is). If you cannot establish you are an employee, you have no claim. If you establish you are an employee and the business is insolvent, it is a claim through the National Insurance Fund (which can also pay something like 8 weeks back wages, notice and holiday pay (at capped amounts)
Does our law condemn a man without first hearing him to find out what he has been doing? (John 7:51)
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