Settlement Agreement News
Please regularly check this section for all of the latest developments on Settlement Agreements.
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REDUNDANCY – IS IT A GOOD THING?
The almost universal portrayal of redundancy in the media is that it is a bad thing for the employee who is made redundant. There is no such thing as a universal law applicable to all situations so in some cases this will be true. The closure of the mine in the pit village, the closure of the only large factory in a small town undoubtedly lead to genuine hardship. Some people’s mental state is such that it is a bitter blow to recover from.
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PROTECTED CONVERSATIONS – HELPFUL OR THE USUAL DOGS DINNER
Dealing with employment law issues is very process driven. You have to do the right things, in the right order at the right time or put yourself at risk of a claim. Life, unfortunately, is generally a lot messier than that.
In 2013 the then Government introduced the statutory concept of pre-termination negotiations more commonly known as protected conversations to ease the process of an employer and employee parting company.
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Unleash Your Entrepreneurial Spirit: A Guide to Starting a Business in Bristol
Are you an aspiring entrepreneur with dreams of starting your own business? If so, Bristol might just be the perfect place for you. With its vibrant culture, thriving economy, and supportive community, this bustling city provides an ideal environment for businesses to flourish. Here at Settlement Agreement Services we love all things entrepreneurial and wanted to dive deep into the opportunities, challenges, and share some resources available to help you navigate the exciting journey of starting a business in Bristol. So embrace your entrepreneurial spirit and let's begin!
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What do I do if the Employer doesn’t pay the monies due to you in a Settlement Agreement?
A settlement agreement is designed to provide a final resolution between two parties. It is a legally binding contract designed to terminate the employment relationship and allow an employee and employer to move on with no come backs. It should be taken seriously by everyone involved and generally this is the case. The terms are observed by both parties. Occasionally this doesn’t happen so what should you do if the employer doesn’t pay. Let's take a look at what steps should be taken in that situation.
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DO EMPLOYERS HAVE TO PAY THE LEGAL FEES FOR SETTLEMENT AGREEMENTS
This question (or its mirror image equivalent does the employee have to pay the costs of a Settlement Agreement) is the most frequent question we get asked at the initial consultation when we give settlement agreement advice here at settlement agreement services towers.
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HOW TO NEGOTIATE YOUR SEVERANCE PACKAGE
This is a question we frequently get asked and the accurate, if unhelpful answer, is that it depends
upon the situation in which you find yourself. Every employer, every employee and the circumstances of a termination are different and the exact way of negotiating always depends upon an analysis of the individual elements.
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Settlement Agreement Calculator
Calculating your settlement payout is never 100% clear cut as every individual's situation is different. Our easy-to-follow guide to calculating your settlement agreement offers advice on what factors are involved in coming to a future and should give you a good idea of what you are entitled to.
Whether you have been made redundant or can't work due to poor health or other issues, or you are facing any type of disciplinary action, we are here to help you work out how much you are due.
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Does a Settlement Agreement Need to be Witnessed?
No, a settlement agreement does not need to be witnessed for legal reasons. As soon as both employee and employer sign the document, it will become legally binding, as long as you have received the advice of a settlement agreement solicitor. There are also other procedures to follow to ensure your settlement agreement is legal and valid before you sign.
Before you sign your settlement agreement, you must be 100% happy with what you agree to, and just because it doesn't need to be witnessed, you may also need legal advice in order to understand all of the legal elements and terms and conditions outlined in the settlement agreement.
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Can I get a Settlement Agreement Online?
The simple answer is yes. At settlement Agreement Services of Swindon, we offer a fully remote settlement agreement service to help you get the best deal if your employment comes to an end. Via phone calls, email or video call, we will help you negotiate your settlement agreement and provide you with the expertise you need.
In an age when face to face meetings are no longer always common place, there is no reason why legal services such as settlement agreement services and getting access to good legal advice shouldn't be accessible to everyone. Gone are the days when trustworthy employment legal advice was reserved only for the wealthy. We are pleased to offer remote settlement agreement services to anyone who needs them at a reasonable cost.
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NOTICE PERIODS
There is a lot of confusion about notice periods. Hopefully this article will deal with some of the more common questions and issues.
Every employment contract has a provision dealing with the notice required to terminate a contract. This will either be what the contract states or the minimum statutory period set out in s. 86 of the Employment rights Act 1996 (“the Act”).
The minimum statutory notice periods are as follows:
Up to one months employment – no notice
From one month to two years service – one weeks notice
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DO I NEED TO PAY TAX ON MY SETTLEMENT AGREEMENT?
Settlement agreements typically include a payment from an employer to an employee. The full sum of money received in a settlement agreement may be made up of separate amounts, paid for different reasons. Therefore there may be tax or national insurance implications, but likewise, the full amount could be paid tax free.
Don't worry if this sounds complicated, often the first £30,000 of the settlement agreement payment is tax free. Our handy guide to settlement agreement tax implications should help you, or please get in touch for expert advice on your settlement agreement.
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DO I NEED A LAWYER TO NEGOTIATE A SEVERANCE
Like so many questions in life the answer is “Yes” and “No”. The question is simple but it cannot be answered without some explanation.
The first point to note is that there is nothing stopping an employer and an employee just agreeing terms by themselves for a payment be made to the employee to exit employment. Pre-1993 this was not uncommon and the employer often made the employee sign a piece of paper stating that they would not bring any claims.