Compensation sums – sometimes referred to as Ex gratia Payments or Redundancy Payments – can usually be paid tax free up to a maximum of £30,000. Other sums including notice monies, holiday pay, bonuses, wages and any other payments made in accordance with the contract of employment will always be subject to the normal income tax and national insurance deductions. We can advise you on whether the sums you are being offered are – or could be – properly classed as Compensation and thus attract the benefit of the £30,000 tax exemption.
Settlement Agreements
Will I need to pay tax on the settlement sum?
What is a Settlement Agreement?
Will I need to keep the Settlement Agreement confidential?
Will I be able to bring any claims against my employer after I sign the Settlement Agreement?
Will I get a reference?
How much does your advice cost?
I’m an employer, can I instruct you to draft settlement agreements?
Settlement Agreements – Top 5 Important Questions
Is a Settlement Agreement the same as a Non Disclosure Agreement and can I be silenced ?
