The company I'm working for are going bust-will I still be paid?

[ThatBliddyWoman]

... I am 99% sure. It began with the woman whose position is just under the CEO leaving abruptly, not even working her notice just 'Feck this, I'm off'. She was lovely. It's a smallish company so I did know her. Then four more prominent people resigned. A lot said in between but tomorrow they've cancelled all activities and said there's a meeting at 2pm to do a 'major company announcement'.

I'm upset. It's the first job I've had doing this type of work and I've always wanted to do it. I had never had the opportunity before.

Also, they've had me on emergency tax. I'd given my P45 when I commenced employment but they asked for it again. I've only been there since the beginning of January. If they do liquidate, I don't think they have to pay us do they? And will I get the money I am owed in tax return?

It's unusual for anyone to go onto emergency tax; HMRC do real-time taxation now.

You will, I think, be a preferential creditor

Worse case could be you get told everyone is redundant with immediate effect.
if the company has no money to pay redundancy I believe there’s a government scheme to claim.

if you’re ask8ng about wages, it’s possible given the worse case scenario above, you get nothing from the company.

hopefully someone will know if there’s also a claim for unpaid wages scheme offered by the government.

I think it unlikely that you’ll be paid as the tax office has first call on any debts

Why do you think they've become insolvent, OP?

Not saying they haven't - just that a lot of things can cause people to leave and it doesn't always mean they've gone bust.

I hope you find out tomorrow and if it is bad news, get whatever you're owed,

You can claim from the government - up to a point depending in your salary if the company is insolvent. You can also go to tribunal for unpaid wages if the employer doesn't declare insolvency. It can take a while to sort out though so be prepared to wait.

www.gov.uk/your-rights-if-your-employer-is-insolvent

Any tax owed you can get back. Assuming you are paid monthly, thankfully it's only the 7th tomorrow

It's what everyone is saying-some more in the know than me :(

Thanks everyone. I'll see what they say tomorrow. It seems we probably won't get paid and will have to fight for it, if my suspicions are correct.

Good luck, OP, that sounds really crap for you. I hope it's not as bad as you think 🤞😞🤞

I am paid monthly.
This is the first job I've had that I've truly loved.
I know far worse things are happening in the world, I'm keeping perspective. But yes it is a bit crap.
My boss has now told me I won't get paid.
I'm tempted to keep my work laptop and flog it as a way of claiming something back. I won't though. Will see what is said in the meeting later.

Why have they told you this morning you won't be paid? If they are doing a company announcement later why would you tell the new hire something like this a few hours before?

gov advice Link