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.
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.
For redundancy, the limit on weekly amount payable to an employee will rise from £643 to £700.
The limit on amount of compensatory award for unfair dismissal will increase from £105,707 to £115,115.
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