New Compensation Limits Announced
Alan Kitto
The Government has announced the new compensation limits that are effective from 6th April 2024.
The maximum compensatory award for unfair dismissal will increase to be £115,115.00 from £105,707.00 or a year’s salary whichever is the lower.
A limit on a week’s pay for basic award or statutory redundancy pay calculation purposes will increase to £700.00 per week from £643.00 per week.
The statutory guarantee payment, where an employee is placed on short-time working or laid off will increase to £38.00 per day from £35.00 per day.
For more information, please don’t hesitate to ask.