08 March 2024
With the tax new year just around the corner, there is very little we don’t know about for 2024 / 25. However, the redundancy limits have been announced and so one more thing slots into place.
Employment Rights Update for 2024/25
Set in legislation by statutory instrument, The Employment Rights (Increase of Limits) Order 2024 was laid before parliament on 26 February 2024 and comes into effect on 6 April 2024 for England, Scotland and Wales.
Increase in Statutory Redundancy Pay
For redundancy, the limit on weekly amount payable to an employee will rise from £643 to £700.
Increase in Unfair Dismissal Compensation
The limit on amount of compensatory award for unfair dismissal will increase from £105,707 to £115,115.
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