redundancy entitlement question

Hi

I was wondering if anyone could help me with some questions regarding redundancy

There is a possibility that I may be made redundant very soon and I am not sure about what is going to happen and whether I will get a package. The company I work for are not being very clear and I feel they are trying to be a bit shady so I would like to get an understanding of my basic rights and entitlement.

I have read some sites and they gave me an idea but i don't really understand it too much.

Some background info on me is that I have worked for a small/medium sized company as a electrical engineer for 8 years and currently earn 650 pounds a week. I am 59 and have permanent member of staff (i.e. not on contract).

The company are not going bust, they are simply downsizing due to them not getting maintenance contracts renewed.

My questions are:

1, Given my service and age how much am I entitled to roughly?
2, How much notice does my firm have to give me once they have announced I will be made redundant?
3, Is redundancy payment taxable?
4, During my notice period do they have to pay me my wages in full up until my last day?

I really appreciate any help you can give me.

Thanks in advance

Dear Elgrillo

Sorry to hear about the possible situation that may arise.

To answer your questions based on the information supplied:

1, Given my service and age how much am I entitled to roughly?

As a guide and not knowing your actual date of birth and start dates, you would be entitled to probably 12 weeks SRP at £350 = £42000 which is not subject to any deductions
2, How much notice does my firm have to give me once they have announced I will be made redundant?

Based on your service 8 weeks unless your contract states otherwise (and you have said you dont have a contract of employment)

3, Is redundancy payment taxable?

(answered above in 1)

4, During my notice period do they have to pay me my wages in full up until my last day?

This depends. If your employer wants you to work your notice then you should receive your normal pay and terms and conditions of employment during the notice period up until the termination date. If your employer wishes you to leave after consultation, then they will pay you in lieu of notice. This in lieu of notice is based on your weekly wage and may or may not be subject to deductions based on your contract. If you dont have one, then it is likely that the PILON will not be subject to deductions.

Hope this helps

Best wishes

Carol

thank you for your help it was very useful and has given me a lot of information.

Hi Elgrillo

I just noticed a typo in Carol's response which I am sure you will have picked up anyway, but just in case - the redundancy payment should be £4,200 rather than £42,000! Shame!

Regards

Pete