Redundancy and Insolvency Payments

[3114Jam]

Hi just wondering if anyone can advise on a couple of matters.

I was made redundant last week due to the company closing.

Receivers were put in place and we received our P45’s last week.

To date only a handful of employees have been given their RP50 form. It appears the louder you fuss the quicker you get sorted.

My questions are:-

1. How long does it take for redundancy payment to be made to me when submitted?
2. No notice was given so we are all entitled to claim these weeks too. The receiver is processing redundancy first for everyone and then Insolvency Payment, is this the normal process?
3. How are the Insolvency payments taxed? I was entitled to 8 weeks notice so I’m presuming I’m due 8 weeks Insolvency Payment.
4. How long should both of these take to be processed by the receiver?
5. The RP50 forms that others have gotten have no bank details yet, is this normal?

I’ve never been in thus situation before and I’ve looked up all the online information but I am confused about the above and what I should expect/accept as the process from the receivers.

 

[Jim Stafford]

I tried to "cut & paste" the requested information from our web site but as the article was too long I set out a link below to it:

[broken link removed]

The process should takes about 3 months.

Jim Stafford

 

[vandriver]

It took in my case about 2.5 months for the redundancy to come through(quaintly it's in the form of a cheque).
The notice period money was about 1.5 months,but was paid to the receiver,who paid tax on it,then forwarded the net amount with a revised P45.