Once a year, there is a review of various employment rates and allowances. BIS has just announced the rates for 2016-2017 in The Employment Rights (Increase of Limits) Order 2016.
Some things remain entirely unchanged. For example, in my previous employment blog post, I wrote about statutory guarantee payments. These remain unchanged at £26 per day.
Of particular note, the following rates have changed:
- Cap on a week's pay for redundancy purposes - £479 (currently £475)
- Maximum compensatory award in most unfair dismissal cases - £78,962 (currently £78,335)
A complete list of the new rates can be found here, and they become effective from 6th April 2016.
For further advice on the new rates, please contact a member of our Employment Law team.