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Redundancy Issue

[Deleted User] · 2015-11-06 18:50:17

Hi guys, What is the situation if a company is going to cease trading? The company in question has run out of funds, been using funds to try and stay afloat by paying staff wages etc. Its now come to the crunch that there is SFA left and the only option isto fold. I understand the state will pay Stat redundancy if the…

06-11-2015 6:50pm

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[Deleted User]
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Hi guys, What is the situation if a company is going to cease trading?

The company in question has run out of funds, been using funds to try and stay afloat by paying staff wages etc.

Its now come to the crunch that there is SFA left and the only option isto fold.

I understand the state will pay Stat redundancy if the employer cant, but if the employer is a sole trader is he liable to pay back the state? What happens if he cant afford to do so due to him being out of work, could he lose his home in order to pay back the state?

Thanks

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