If you're a company director and your business is insolvent, you may have a valid claim for director redundancy. Use the Quick 60 Second Calculator below to find out more.
For more information on how the process works and to discover if you are eligible, visit our Director Redundancies page.
Simply complete the fields below to receive your free illustration from Redundancy Claims UK.
Many company directors are simply unaware they may have a potential claim for director redundancy following the liquidation of their insolvent company. However, in the majority of cases directors are also often classed as employees of their company as well, and so long as they have been receiving a salary through the PAYE system, they are likely to qualify for redundancy once the company closes.
Just like with redundancy pay for employees there is an eligibility criteria which needs to be met in order for a director to qualify for such a pay-out. These requirements are that their limited company must have been incorporated for a minimum of two years, during which time they must have taken an active role in the day to day running of the business working a minimum of 16 hours a week.
Should a director qualify for redundancy, they are also likely to be able to claim for additional statutory entitlements such as holiday pay, notice pay, and unpaid wages. These additional elements have the potential to significantly increase the total value of the claim. In fact, the average amount payment received by directors is £9,000 – an amount which could make a huge difference during the closure of your company and subsequent loss of income.
Real Business Rescue works alongside Redundancy Claims UK who are fully regulated by the Claims Management Regulator and have over 40 years’ experience of helping company directors claim the redundancy they are entitled to.
Your age when you were made redundant×
How many years have you worked for the company as a director or employee?×
What was your pre-tax wage each week?×