This update was first published in the February 2011 UK issue of Accounting and Business magazine.
New tribunal award limits and amounts payable under employment legislation come into force on 1 February 2011. The unfair dismissal compensatory award maximum compensation rises from £65,300 to £68,400 and the minimum basic award increases from £4,700 to £5,000.
The maximum amount of a week’s pay for the purpose of calculating a statutory redundancy payment and the basic and additional awards for unfair dismissal increases from £380 to £400.
The increases in the limits apply where the event that gives rise to an award or payment occurs on or after 1 February 2011.
Glenn Collins, head of advisory, ACCA UK