Financial Snapshot: Documenting Your Position After Leaving Employment

Access to payslips, company HR systems, and internal contacts closes quickly after departure. Entitlement calculations — statutory redundancy pay, accrued holiday, notice pay — depend on figures that are easiest to verify while you still have access to payroll records and can query HR directly.

Complete this section before day three. Use The Status Sheet from the Handover Pack to record figures in one place. The goal is a single document that states your financial position as of the date of exit — income received, income owed, fixed outgoings, and weeks of runway available.

Record the following before payslip access is removed:

• Final salary payment — date, gross amount, and any deductions. Confirm with payroll if not yet issued.
• Outstanding salary — any days worked in the current pay period not yet paid. Calculate the daily rate (annual salary ÷ 260 working days) and multiply by days owed.
• Accrued holiday pay — days of unused holiday entitlement multiplied by your daily rate. Your employer is legally required to pay this on termination.
• Notice pay — whether you are working your notice or receiving payment in lieu (PILON). Confirm the gross figure.
• Outstanding expenses — any submitted but unpaid claims. Note amounts and approval status.
• Bonus or commission — any bonus that has accrued but not been paid. Check your contract for terms on pro-rata entitlement on exit.
• Share scheme or deferred compensation — note any unvested shares, long-term incentive plan (LTIP) awards, or deferred pay. Check scheme rules for exit provisions.
• Pension — note your current pot value (from most recent statement), contribution rates, and whether you are in a defined contribution or defined benefit scheme. Record the pension provider's contact details.

Runway is the number of months your current liquid assets cover your fixed monthly outgoings. Calculate it now, before any income arrives or any expenditure changes.

• Fixed monthly outgoings — rent or mortgage, utilities, council tax, insurance, subscriptions, loan repayments, minimum debt payments. List each item separately and total them.
• Variable outgoings — food, transport, clothing, non-essential subscriptions. Estimate a realistic monthly figure, not a target.
• Total monthly spend — fixed plus variable.
• Liquid assets — current account balance plus any accessible savings. Do not include pension funds, shares, or assets that cannot be accessed within 30 days.
• Runway (weeks) — liquid assets ÷ (total monthly spend ÷ 4.3). Record this figure.

If redundancy pay, notice pay, or holiday pay is pending, do not include it in your runway calculation until it is received.

Verify each of the following. Entitlement varies by departure type — see the relevant entry point page for departure-specific notes.

• Statutory redundancy pay (redundancy only) — calculated by length of service, age, and weekly pay (capped at £751 per week as of April 2026, maximum award £22,530). Use the GOV.UK redundancy pay calculator at gov.uk/calculate-your-redundancy-pay.
• Universal Credit — eligibility depends on household income, savings, and departure circumstances. Voluntary resignation may affect the waiting period. Check current rules at gov.uk/universal-credit.
• New Style Jobseeker's Allowance (JSA) — available if you have paid sufficient National Insurance contributions in the last two full tax years. Check eligibility at gov.uk/jobseekers-allowance.
• New Style Employment and Support Allowance (ESA) — if a health condition is affecting your ability to work. Check at gov.uk/employment-support-allowance.
• Pension transfer — if you are leaving a workplace pension scheme, note the provider and options: leave the pot where it is, transfer to a personal pension, or transfer to a new employer scheme in future.
• HMRC tax refund — if you leave employment part-way through the tax year, you may have overpaid income tax. Contact HMRC or submit a Self Assessment return if applicable.

The Status Sheet (Doc 1 in the Handover Pack) is a one-page financial snapshot. It provides pre-labelled fields for income, outgoings, outstanding entitlements, and runway. Complete it on day one or two and retain it as your reference document for the first 30 days.