Monday, February 13, 2017
Employment solicitor Katie Ash explains and answers some questions around settlements agreements.
Understanding Settlement agreements:
- Do you have to pay tax on a settlement agreement?
- What happens to any bonuses?
- What happens to any payments in lieu of notice?
What is a settlement agreement?
A Settlement Agreement (which used to be called a Compromise Agreement), is a legally binding contract made between an employee and employer, either during or after employment, which formally agrees the leaving terms between both parties and in effects stops the employee from bringing legal action against the employer in respect of their employment and/or its termination, usually in exchange for a termination payment.
About the Expert
Katie Ash is a Director and Solicitor at Banner Jones Solicitors, heading up the Employment Law Department. She, and her Team, assist both businesses and individuals with a full range of Employment Law and HR matters. She works across all business sectors and has become well known for her expertise in dealing with complex TUPE situations for local and national companies.
Katie prides herself on getting to know her clients and building lasting relationships, and offering pragmatic advice and workable solutions to issues that arise in the workplace.