Economic conditions such as those created by the COVID-19 health crisis, mergers or a change in business operations can lead to difficult decisions about staff redundancies.
This guide covers the general legal and human resource issues you would need to consider and does not replace expert advice.
The legislation dealing with redundancy can be complex. On this page you can find ICAEW insights alongside eBooks, articles and online resources providing practical guidance and best practice.
Redundancy letter templates covering individual and collective consultations and model redundancy agreements are available from the ICAEW library.
30 July: The government has unveiled new laws to ensure furloughed employees who are made redundant receive redundancy pay based on their normal wage rather than a reduced furlough rate.
CABA provides lifelong support to past and present ICAEW members, ACA students, ICAEW staff, and their close family members. If you have a legal query relating to employment law, their confidential and independent telephone advice from LawExpress can provide help.
Guidance on managing redundancy from the Advisory, Conciliation and Arbitration Service (ACAS).
The CIPD's factsheet includes guidance on managing redundancy.
Updated 20 May 2020: Sarah Bradford, director at Writetax Ltd, explains the new rules regarding taxing termination payments applying from April 2018. She covers termination awards, post-employment notice pay and statutory redundancy pay among other things.
An outline of some of the resources available to ICAEW members on accounting for redundancy.
Technical helpsheet issued to help ICAEW members and Financial Reporting Faculty members, understand the accounting considerations and requirements for redundancy payments under FRS 102.
Information sheet offering guidance for Chartered Accountants facing redundancy.
CABA provides lifelong support to past and present ICAEW members, ACA students, ICAEW staff, and their close family members. If you have a legal query relating to employment law, their confidential and independent telephone advice from LawExpress can provide help.
Guidance on redundancy from the Advisory, Conciliation and Arbitration Service (ACAS).
30 July: The government has unveiled new laws to ensure furloughed employees who are made redundant receive redundancy pay based on their normal wage rather than a reduced furlough rate.
Guidance from the government for people furloughed under the Coronavirus Job Retention Scheme and subsequently made redundant due to their employer becoming insolvent.
The CIPD's guide on the impact of COVID-19 and the Coronavirus Job Retention Scheme on redundancy procedures.
Information on redundancy, including reasons that would be considered reasonable or unfair, notice periods and pay.
Government information on workers' rights if an employer is insolvent, applying for money owed and how to contact the Redundancy Payments Service.
Even if you have seen it coming, redundancy is often a shock. CABA has a range of career development services and provides lifelong support to past and present ICAEW members, ACA students, ICAEW staff, and their close family members.
CABA services are available to ICAEW members, ACA students and their families. You can speak to CABA for free, confidential advice.
Citizen's Advice provides information on money management, including debt.
The Money Advice Service provides guides, tools, calculators and support.
Tips on things you can do, including looking at your financial situation, updating business contacts and CVs, and searching for a new job or career direction.
The Money and Mental Health charity conducts research and looks at policy solutions in relation to financial difficulties and mental health.
The StepChange charity provides information on debt management.
Search for your next accountancy or finance role. Use your ICAEW member log-in details to sign in.
Career advice, articles and top tips.
Hear from expert recruiters on the impact this pandemic has had on the job market, and gain tips on how to job hunt during COVID-19.
Resources, guidance and advice from ICAEW on getting back to work following a period of unemployment.
You’ll learn how to become an effective job hunter and find jobs that are never advertised. You can even practice psychometric tests and assessment centre activities before your big day.
CABA has a range of career development services, including when you are looking for a new role.
Information, insights, guidance and networking opportunities on a range of industry sectors, professional specialisms and at various stages throughout your career.
Find out about the key matters you need to consider when setting up in practice.
CABA has a range of career development services including career coaching that can help smooth your return to work.
In response to the ever-changing business landscape ICAEW Academy has created a range of virtual learning that delivers on-going cpd support to keep you connected. We are offering members a 75% reduction on our entire academy virtual learning courses, with the added bonus of a free leadership series – leading remote teams.
ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided ‘as is’ with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.