Redundancy Payments
for Company Directors
Let us help you to maximise your claim.
Redundancy Calculator
To save you the effort of doing the complicated mathematical calculations to figure all of this out, we have already done the sums for you in our user friendly Redundancy Calculator. It will take you just a minute to discover how much we can help you to claim.
Read MoreDirector Redundancy FAQ’s
Two of the most common questions we get asked are ``What is the maximum I may be entitled to claim?” and ``What would prevent a directors redundancy claim being approved?``
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Many company directors find our help to be invaluable and we will always ensure that you claim the maximum possible entitlement available based on your individual circumstances.
Read MoreDo Directors get Redundancy Pay?
All employees including directors can claim redundancy pay and other amounts they are owed following the liquidation of their company. This includes sole directors who were both the only employee and also 100% shareholder and where they put the company into liquidation themselves.
It does not matter if there are no assets left in the company and the liquidator has no funds at all. The redundancy claims are paid from the Government’s National Insurance Fund which is operated by the Redundancy Payments Service (RPS).
However, most directors are unaware of their statutory right to redundancy pay because it is a common misconception that company directors cannot claim it and those directors that do bother will find that the odds are stacked against them making successful claims. Some of the information and documentation requested by RPS is ambiguous and confuses many people, and just one simple mistake on any one of the online claim forms could result in your entire claim being rejected. This is why we started our business to help directors make successful claims.
We understand exactly what benefits company directors are able to claim and we keep fully up to date with all policy changes and new legislation. This enables us to ensure that all of our clients get the maximum pay-outs available.
CFS Redundancy Payments Ltd is a claims management company authorised and regulated by FCA. Only such companies can process employment related claims.
Redundancy entitlements for company directors
Company directors and other employees can claim up to 30 weeks of Redundancy pay, which is currently capped at £544 per week and tax-free. They can also claim up to 8 weeks unpaid wages and 6 weeks holiday pay; together with a maximum of 12 weeks notice pay, again capped at £544 per week. We can help directors to maximise their pay-outs in cases where they paid themselves less than the minimum wage and supplemented their earnings with dividends. In certain circumstances, long serving directors earning £28,000 PA or more, can be entitled to claim as much as £27,635.
Strict time scales apply to your claim, so if you would like us to help with your claim then we urge you to contact us straight away.
How long does the process take?
It is the aim of the Redundancy Payments Service (RPS) at process 92% of directors’ redundancy claims within 6 weeks from receipt of the claim. So, the sooner we submit your claim, the quicker the money will be in your bank account. We will deal with your entire claim from start to finish. Based on information you give us, we will submit your RP1 form which has details of your claims for redundancy pay, unpaid wages and holiday pay. Once these parts of your claim have been processed for payment by RPS, we will then submit your notice pay claim. Usually, all 4 parts of your claim are processed and paid out by RPS within 8 weeks following the submission of your RP1 form.
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Did you know…
Company directors and other employees can claim up to 30 weeks Redundancy pay, which is currently capped at £544 per week. They can also claim up to 8 weeks unpaid wages and 6 weeks holiday pay; together with a maximum of 12 weeks notice pay, again capped at £544 per week.
We can help directors to maximise their pay-outs if they paid themselves less than the minimum wage and supplemented their earnings with dividends. In certain circumstances, long serving directors earning £28,000 PA or more, can be entitled to claim as much as £27,635.
From Our Blog
Redundancy Claims – Weekly Limit Increase – 6 April 2021
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Our Key Members of Staff
Jeremy Carter
DirectorThe business is headed up by Jeremy Carter who qualified as a chartered accountant in 1985 and became a licensed insolvency practitioner the following year. Since 1998 he has been operating Capital Financial Solutions which offers business solutions to company directors facing financial uncertainty. In 2018 he established CFS Redundancy Payments Ltd.
Emily Parry
ManagerEmily Parry has recently been recruited to head up our directors redundancy claims processing unit. She previously worked for a large firm of licensed insolvency practitioners in a variety of key senior roles. She has an in depth understanding of the redundancy claims and payments processes and the various statutory entitlements available to company directors.
