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Is it possible to make a redundancy payment on a voluntary liquidation to directors? If so, is there a minimum period of time which directors must have been paid a salary?

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Posted by (Questions: 8, Answers: 4)
Asked on 13 September 2017 5:44 pm
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Redundancy payments are made to employees who involuntarily deprived of their employment.

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Answered on 28 September 2017 3:30 pm

But must the directors have been paid a salary in this situation. Have a case where a company will be liquidated but the directors have not been paid any salary. Wondering if it is possible to pay a redundancy to one of them.

( at 28 September 2017 3:58 pm)

You can make a termination payment to a director but it must meet the conditions in TCA 1997 s 201 to be exempt.

( at 4 October 2017 7:07 pm)