Where do we stand here?

[firestorm]

the company my dh works for is transfering overseas in the next year (dont know exactly when) at the end of this year his current boss will leave & a new boss (from said new country) will take over until the final transfer of business to overseas. needless to say my dh will be made redundant & his job will be taken by somebody else in that country. he will only be entitled to 5k redundancy for the 15 years loyal service & millions of pounds he has made them is it fair that they can do this? im hoping that dh will pull his finger out & find a new job asap, but unfortunately i feel he will bury his head in the sand & hope for the best.
also dh wonders if its even legal for the company to be operating without a non british director? i personally have no idea.
any advice appreciated.

Redundancy terms are usually specified in your contract

Usually it's 1 month + 1 week for each year worked - so a minimum of 4 months salary for your DH I would have thought

It will be non-taxable

our concern isnt really how much he will get. we know it wont be a huge amount according to citizens advice website its 1 week for each year at his age (which works out just under 7k & about 5k after tax) im mainly interested to know if they can do this? im sure there are loopholes. they will say his job ceases to exist, then set somebody else up overseas with a different job title (new job) which is perfectly fine. people do it all the time when a company goes bust, they set up again in their wifes name, all perfectly legal.
does anyone know if the company is legally allowed to operate in the uk when the person in charge does not have a british passport & is not a british citizen? thanks.

Firestorm - there is no requirement for directors to be UK citizens.

When you say overseas are we talking outside of EU?

redundancy payments are tax free up to a certain point (cannot remember the figure but may be on the dti site)

yes ladymuck we are talking outside of the EU. the relevance of whether the director had a uk passport is not something id thought of actually, just something dh must of heard somewhere. certainly no chance that we would uproot there even if he was offered the job

meowmix, thats interesting what you say about reduncancy payments being tax free up to a certain point. im very suprised (amazed even) about that, but will look it up. it all helps i suppose. hopefully dh will be in a new job before it comes to that though

i suppose i was just clutching at straws really. it seems so unfair for him to lose out after giving so much to the company & making them millions. im just worried about what will happen, & a bit cross with dh, he knew this was on the cards a long time ago. he knew i was unhappy with our local schools & wanted to move on. i told him to look for a new job prior to the move, needless to say he didnt & we have very recently relocated which cost us 100k theres no way i want to move us again.
i feel so frustrated about the whole thing
im just sounding off, ignore me.

Redundancy payouts are usually tax-free up to £30k.

thanks ladymuck i really hope it doesnt come to that.