As the director of a limited company, you probably have some understanding of redundancy payments and how they apply to your employees, but few company directors know that they may also be entitled to claim statutory redundancy payments… A week’s pay for each full year you were employed when you were between 22 and 40 years old A week and a half’s pay for each full year you were 41 years old and over If your company is struggling financially, despite your best efforts to turn things around, voluntary liquidation maybe your best option. The average claim is £9,000 and the largest is around £23,000. It is important to note that, if you were made redundant on or after 6th of April 2020, the weekly pay is restricted to a maximum of £538. Additionally, the maximum amount of statutory redundancy pay you are entitled to is £16,140. However, if redundancy occurs before the 6th April 2020, then your entitlement will be reduced. Furthermore, redundancy pay below £30,000 will not be taxed.