From 6 April 2024, new increased compensation limits for employment tribunal claims will come into force. The changes will affect figures relating to a week’s pay (used for calculating various awards, including statutory redundancy payment and unfair dismissal basic awards) and unfair dismissal compensation.
A week’s pay will increase from £634 to £700, and the higher maximum unfair dismissal compensation award will increase from £105,707 to £115,115.
These increases, which will be made by the Employment Rights (Increase of Limits) Order 2024, are reflective of the increase in the retail prices index of 8.9% from September 2022 to September 2023.
If you have any questions about how these changes may affect your business, please call a member of the Howarths Employment Law Team on 01274 864999.
