There are limits which are applied to certain awards which are made by the Employment Tribunals.
What are the key changes?
The key change is the increase in the amount of the compensatory award for an unfair dismissal claim which rises from £93,878 to £105,707. The maximum amount of “a week’s pay” for the purpose of calculating a redundancy payment or for other awards, for example, the basic award in an unfair dismissal claim, will also rise from £571 to £643. For redundancy claims, the statutory cap for the purposes of calculating statutory redundancy pay will also increase from £571 to £643.
When will the changes take effect?
The relevant increases in the limits will come into force with effect of 6th April 2023. This will mean that the increased limits will apply to compensation or other payment arising as a result of an event which occurs on or after 6th April 2023.
If you would like to discuss any of the issues in this blog, please contact us.
