I have been fired (contract terminated) by my employer with immediate effect.
I will be paid 3 months in lieu of notice, which is not redundancy in its definition. I have been on a commission structure and normally get to keep 50% of the figure over a certain value. Will this apply to the notice in lieu payment?
You will need to discuss this with your own IP. It would be sensible to treat this as redundancy and allow you to keep it while you look for work, but this would be your IP's decision. After the 3 months you might also need to discuss a payment break if not re-employed by then.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014 http://foggy.blogs.iva.co.uk