The Government has announced that as of 1 February 2008, the limit on a week’s pay (for the purposes of calculating a statutory redundancy payment and various employment tribunal awards) will increase to £330 (from £310).
The limit on the compensatory award for unfair dismissal claims (except where the reason for dismissal means that the cap does not apply) will increase to £63,000. However, it should be remembered that generally a basic award (calculated in the same way as a statutory redundancy payment) will be payable in addition.
(Information posted in February 2008 and may not have been updated at time of reading).