Settlement Agreement Information – Monaco Solicitors

Settlement Agreements

We are specialists at reviewing and advising upon settlement agreements, whether you just want yours signed off, whether you’d like the terms negotiated (including perhaps an increase of the settlement money) or whether you just want to know if you’re getting a good deal.
Below are some articles we’ve written about settlement agreements generally, for your information.

Settlement Agreements

Settlement agreements (formerly known as compromise agreements) provide that in return for a payment you give up your right to bring claims against your employer at the employment tribunal or in the courts.   Settlement agreements are individual contracts between you and your employer. As such, the content of a settlement agreement is...

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Should I Sign My Settlement Agreement?

Whether you sign your settlement agreement is entirely up to you – you're under no obligation to sign it, especially if you think you may have a tribunal claim. If you are happy with it, you need to sign and you need to get an independent solicitor to sign it...

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Garden Leave and Settlement Agreements

What exactly is garden leave (also known as gardening leave)? When an you resign, or are dismissed, in certain industries it is common for you to be placed on something called 'garden leave'. You might also hear it referred to as 'gardening leave', but this is exactly the same thing and is just...

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Share Options as Part of a Settlement Agreement

If you are a senior employee of a company, you may have been offered share options as part of a benefits package outlined in your contract either when you began your employment, or during your work at the company. If you are exiting the business it is important to ensure...

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Settlement Agreements for Ill Health Retirement (also known as Early Retirement Due to Ill Health)

Are you nearing the age of retirement and feel the need to leave work due to ill health or sickness? You may find that you are eligible for early retirement due to poor health if your medical condition means that you can not continue your work. We’ll help explain the rules...

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Settlement Agreement Solicitors London

Settlement agreement solicitors in London don't normally represent employees only, but Monaco Solicitors do. Because we don't represent employers, there is never any conflict of interest - we're not interested in becoming friends with your HR manager in order to win ongoing work from them, for example advising upon their staff...

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Tax Overview – Settlement Agreements

Compromise & settlement agreement tax breaks Tax on ex gratia payments and other settlement agreement tax queries are often one of the most complicated areas of UK settlement agreement advice. If you are wondering what are the tax implications of your settlement agreement, this article should help to summarise the position....

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Are Pension Payments & Settlement Agreements Tax Free?

Pension payments in settlement agreements can be tax free and therefore worth considering if you are getting over £30,000 from your employer. In this article we explore how to pay  a lump sum of money into your pension scheme as part of your settlement agreement deal, and the types of practical issues...

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When Should I Expect Payment?

This can vary from one employer to another. Usually, once a Settlement Agreement has been signed by all the parties concerned, your settlement money is usually paid out within 14 to 28 days. Some organisations tend to process payments in the relevant monthly payroll. We would generally try to ensure...

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Calculating Settlement Agreement Tax

Calculating tax on settlement or compromise agreements can be a difficult task. In this article we explain how to work out how much tax you will pay on any ex gratia settlement amount in excess of £30,000. This article is not for the faint-hearted and it may be of more...

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Obtaining References

Can I get a reference letter with a settlement agreement? Yes - many settlement agreements have a specific clause dealing with references. If your one doesn't: ask for one! The best clauses will say something like "A reference will be provided upon written request in the form annexed to this agreement at...

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Concluding a Settlement Agreement

What If I'm Happy With My Settlement Agreement Amount? You may already have been offered a settlement agreement which has been the culmination of a lengthy process between you and your employer and has resulted in an offer of settlement that is acceptable to both sides. TOP 3 TIPS You are required to obtain legal...

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Sick Pay in Your Notice Period

When should you receive full pay during your notice period? If you are off sick and you have gone down to reduced pay, and then you hand in your notice, should you receive only sick pay during your notice period, or should you receive full pay? The answer depends on the length...

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What do Settlement Agreements Contain?

Settlement agreements are individual contracts between you and your employer. As such, settlement agreements are not set in stone there is no right or wrong answer. There are certain minimum contents set out by statute, such as it must be in writing and signed by an independent solicitor, but the...

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What if I Don’t Sign My Settlement Agreement?

If you’re reading this, chances are, that you have already been offered a Settlement Agreement and are contemplating whether you should sign it or not. If this is the case, then you are in a difficult situation because once a settlement agreement becomes a possibility, it is likely that you won’t...

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Why Do Solicitors Sign These Agreements?

There is legislation in place which says that a settlement or compromise agreement must be signed by an independent solicitor, covered by a contract of insurance. Believe it or not, this is in order to make the settlement agreement legally binding upon you. Think of an ordinary contract between employer and...

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Information about Settlement Agreements

Is a settlement agreement different to a compromise agreement? Not really. What employment lawyers currently call Compromise Agreements are changing their name to Settlement Agreements. This change is expected to come into force in the summer of 2013, there are no exact dates available from the government at this time. A settlement...

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