Our guide to calculating an employee's claim in an insolvency
From 6 April 2024, the maximum amount of a week's pay for calculating employees' claims will increase to £700.
The Government has increased the following:
- the weekly limit for gross wages when calculating statutory redundancy pay has increased from £643 to £700;
- the maximum statutory redundancy payment or basic aware has increased from £19,290 to £21,000; and
- a successful unfair dismissal claim may grant a compensatory award of up to £115,115, from £105,707.
You can read how an employee's entitlements are calculated in our "What, how and why ?" section.