Search for:

In brief

The government has announced the annual increases to tribunal compensation awards and statutory redundancy payments from 6 April 2024.


Key takeaways

Where a tribunal case relates to a dismissal, the new rates will apply where the effective date of termination falls on or after 6 April 2024.

  • The limit on a week’s pay, including for the purpose of calculating statutory redundancy payments or calculating basic or additional awards of compensation for unfair dismissal will increase from GBP 643 to GBP 700.
  • The maximum compensatory award for unfair dismissal will increase from GBP 105,707 to GBP 115,115.

For further information on how this affects your business, please get in touch with your usual Baker McKenzie contact.

Author

Kim Sartin is a partner in Baker McKenzie's Employment and Compensation team in London and a Member of the Firm’s Global TMT Group SteerCo. She is ranked as a leading individual in Chambers, as Up and Coming for Industrial Relations and recognised for her experience in the TMT sector (Chambers Global, UK). She is described as “a true global partner” who “stands apart with her business acumen”.

Author

Julia Wilson is a partner in Baker McKenzie's Employment & Compensation team in London and co-chair of the Firm's Workforce Redesign client solution. Julia also leads the employment data privacy practice in London. Julia advises multinational organisations on a wide range of employment and data protection matters. She is highly regarded by clients, who describe her as a “standout” performer who "knows how we think." A member of the Firm's Pro Bono Committee, she plays a lead role in the Firm's pro bono relationship with Save the Children International. She also collaborates with Law Works to deliver employment law training to solicitors who provide pro bono advice to individuals. Julia regularly presents and moderates panels on podcasts, webinars and in-person events, is often quoted in mainstream media, and authors articles and precedents for a range of industry and other publications.

Author

Mandy Li is a Knowledge Lawyer in Baker McKenzie London office.

Write A Comment