If you are a director of a limited company - which has been trading for over two years - and you are considering closing the company due to financial struggles (i.e. HMRC debts, creditor pressure, cash flow worries, potential insolvency), it is likely that through a third party provider you can claim for director redundancy for which the average UK claim is £9,000*.
Based on the following:
Age at time of Redundancy:
45 years
Full Years Service:
7 years
Weekly Wage (Pre Tax):
£450
Potential Redundancy Claim
£4,050
Based on the following:
Age at time of Redundancy:
32 years
Full Years Service:
2 years
Weekly Wage (Pre Tax):
£380
Potential Redundancy Claim
£1,520
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In addition to these examples, you could also be entitled to up to 8 weeks'
arrears of pay and 6 weeks' holiday pay depending on your circumstances

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