CMC charges for financial products and services claims The FCA has set out new rules for claims management companies (CMCs) to protect consumers against excessive charges. Some of the major changes include: Restricting the fees CMCs charge for managing claims about non-PPI financial products and services through a fee cap...
Continue Reading
Dear IP Publication – Update on Employment Protection Act by the Redundancy Payments Service Company Rescue and Employment Contracts The purpose of this article is to provide guidance on issues arising from paras. 37 and 38 of Schedule B1 to the Insolvency Act 1986, where an administration order is made..
Continue Reading
Unlike in the past, Directors redundancy claims will no longer be automatically be uplifted to national minimum wage (NMW) unless the Insolvency Practitioner (IP) agrees the uplift. However, here at CFS Redundancy Payments Ltd, we will continue to process directors redundancy claims at never less than the national minimum wage..
Continue Reading
The Redundancy Payments Service (RPS) Helpline has now re-opened. RPS can be contacted by calling 0330 331 0020 between the following hours: 9am and 5pm – Monday to Thursday 9am and 3pm – Friday RPS can also be contacted by email at: [email protected] Kind Regards CFS Redundancy Payments Ltd
Continue Reading
The Employment Rights (Increase of Limits) Order 2021 With effect from 6 April 2021 the statutory maximum amount of “a week’s pay” for the purpose of calculating a redundancy payment increases from £538 to £544. A copy of the above relevant statutory instrument is available at the following website address: https://www.legislation.gov.uk/uksi/2021/208/made..
Continue Reading
Suspicious or fraudulent redundancy payment claims – A reminder of an Insolvency Practitioner’s responsibilities Given recent media reports highlighting suspected fraudulent activity across a range of government support schemes and services, Insolvency Practitioners are reminded to be vigilant of potential abuses including in relation to redundancy payments claims. The Redundancy..
Continue Reading
The FCA have published a consultation paper on proposals to restrict the amount charged by claims management companies. Under the Financial Guidance and Claims Act 2018 (FGCA) when Parliament transferred regulation of CMCs to the FCA it gave them a duty to make rules about CMC fees for claims relating..
Continue Reading
From April 2021 the National Minimum Wage and National Living Wage will increase by 2.2 percent from £8.72 to £8.91. For the first time, the increase will be extended to 23 and 24-year-olds. In full, the increases are: Rate from April 2020 Rate from April 2021 Increase National Living Wage..
Continue Reading
Dear IP This article is being issued to clarify the existing position that was set out previously in Chapter 17 Article 46 and to ensure compliance with the Claims Management Regulator (CMR) set out in Chapter 13 Article 94. The Redundancy Payments Service (RPS) receives claims from directors where assistance..
Continue Reading
Hello to all our visitors from the company liquidation services website. After many years of successfully helping business owners to liquidate their company, we took the decision to concentrate fully on claiming redundancy payments for directors. Many directors do not know that they and other employees can claim up to 30 weeks..
Continue Reading