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UC calculation and stat redundancy pay?

2 replies

Uhoh2020 · 15/07/2020 16:09

Does anyone know how UC works in terms of redundancy?
I am being made redundant on the 1st Sept. (Company in administration I'll be claiming redundancy through government).
When I receive the stat redundancy payout is that used as part of any income I've earned that month as it isn't taxable?

I know that the PILOU payment I get later on is taxable so assume that would form part of income earned when the UC is calculated.
The stat redundancy will be around 4k so it wont take me over the 16k saving threshold.

OP posts:
Babyroobs · 15/07/2020 16:44

redundancy pay ( if properly reported by your employer) should be counted as capital and not earnings. So if it takes your savings over 6k it will affect your Uc amount slightly each month. They deduct £4.31 from your UC for each £250 you have over 6k.

Uhoh2020 · 15/07/2020 16:57

My savings definitely won't be over 6k

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