Compromise Agreement Solicitors & Lawyers

Advice on your compromise agreement, unfair dismissal or redundancy law Tel: 0207 488 9947 or Email: enquiries@rtcooperssolicitors.com

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Entries Tagged as 'Taxation'

Employment Law, Indemnity, Tax, Compromise Agreement

January 11th, 2012 · No Comments · Compromise Agreement Solicitor, Compromise Agreement Solicitors, Compromise Agreements, Employment Lawyers, Employment Solicitors, HMRC, Indemnity, Independent Legal Advice, Redundancies, Redundancy, Redundancy law, Taxation

Usually there is a tax indemnity in a compromise agreement, meaning if Her Majesty’s Revenue & Customs (formerly Inland Revenue) makes claims for penalties from an ex-employer, the ex-employee has to indemnify the ex-employer for any taxes due. This would apply if for example, there has been a miscalculation of taxes payable under the compromise [...]

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Employment Law, Redundancy, Holiday, Payment in Lieu of Notice

January 10th, 2012 · No Comments · Choosing an Independent Legal Advisor to provide Advice on the Terms of your Compromise Agreement, Compromise Agreement Solicitor, Compromise Agreement Solicitors, Compromise Agreements, Employment Lawyers, Employment Solicitors, Entitlement to Untaken Accrued Holidays, Holiday Entitlement, Independent Legal Advice, Payment in Lieu of Notice, Redundancies, Redundancy, Redundancy law, Taxation, Untaken Holidays

With regards to compromise agreements, it is always advisable to clearly set out any untaken accrued holidays and payment in lieu of notice and to show these separately, as they are both taxable. If you require further information about redundancy law, please contact us at enquiries@rtcooperssolicitors.com or visit one of the following pages on employment law: http://www.rtcoopers.com/practice_employment.php [...]

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Employment Law, Redundancy, Payment in Lieu of Notice, Settlement Payment

December 14th, 2011 · No Comments · Choosing an Independent Legal Advisor to provide Advice on the Terms of your Compromise Agreement, Compromise Agreement Solicitor, Compromise Agreement Solicitors, Compromise Agreements, Employment Lawyers, Employment Solicitors, Independent Legal Advice, Payment in Lieu of Notice, Redundancies, Redundancy, Redundancy law, Redundancy Pay, Taxation

In order for an employer to provide an employee with payment in lieu of notice, this must be referred to in the employee’s employment contract. Some employers are incorporating the notice period as part of the settlement payment, which is tax free. We always advise that there is a risk that Inland Revenue may decide [...]

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Employment Lawyers Compromise Agreements – Severance Compensation – PILON

June 13th, 2010 · 2 Comments · About Compromise Agreement Blog, Choosing an Independent Legal Advisor to provide Advice on the Terms of your Compromise Agreement, Compromise Agreement Solicitor, Compromise Agreement Solicitors, Compromise Agreements, Employment Lawyers, Employment Solicitors, National Insurance Contributions, Payment in Lieu of Notice, Payment Terms, Redundancy Pay, Settlement Payment, Severance Pay, Statutory Redundancy Pay, Taxation, Termination Date, Termination of Employment, Termination Payment, Your Compromise Agreement is a Binding Contract

We are receiving a number of enquiries where employers are only offering employees Payment in Leiu of Notice (PILON) as their compensation for loss of employment.   Typically employers are paying Severance Compensation as follows:  The employer will on its own behalf, and on behalf of all its associated companies, without any admission of liability whatsoever [...]

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Compromise Agreement Solicitors – Taxation of Termination Pay

November 7th, 2009 · 4 Comments · About Compromise Agreement Blog, Basic Rate of Tax, Compromise Agreement Solicitors, Compromise Agreements, Settlement Payment, Signing Compromise Agreements, Taxation, Termination Date, Termination Payment

We are still being asked about taxation of Settlement Payment or some people refer to it as Termination Payment. The correct advice is that the first £30,000 of an employee’s Termination Payment will be paid without deduction of income tax in accordance with section 403 of the Income Tax (Earnings and Pensions) Act 2003. If an employee’s Settlement [...]

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