The government has announced the annual increase in compensation limits for employment tribunal awards and other statutory payments.

They are contained in The Employment Rights (Increase of Limits) Order 2024.

The two most important increases are:

  • maximum compensatory award for unfair dismissal: £105,707 to £115,115
  • limit on a week’s pay: £643 to £700

The new figures should be quite easy to remember and all the more reason not to fall foul of employment law procedure and legislation!

Other notable figures include:

  • minimum basic award for some forms of unfair dismissal rises from £7,836 to £8,533
  • statutory guarantee pay increases from £35 to £38 per day

These proposed changes are still, technically, subject to parliamentary approval but they are expected to take effect from 6 April 2024.