Settlement Agreement Information – Monaco Solicitors

Settlement Agreements

We are specialists at reviewing and advising upon settlement agreements – whether you just need yours signed off, you know you’d like the terms negotiated (including perhaps an increase of the settlement money), or you just want to know if you’re being offered a good deal.

Settlement Agreements

Settlement agreements (formerly known as compromise agreements) state 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.

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How Much Money Should I Get in my Settlement Agreement?

In this article, we try to look at some of the factors which might indicate how much you should get from your settlement agreement. We've broken these down into ‘internal’ & ‘external’ factors.

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Ex Gratia Payments

Ex gratia payments are also known as ‘golden handshakes’ or ‘golden boots’. In essence they refer to a sum of money paid when there is no obligation or liability to pay it.

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Garden Leave and Settlement Agreements

During garden leave you would still be contracted to the employer but there are certain conditions which you need to meet, the most common being that you do not attend the workplace.

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Share Options

Share options can be the single most financially important aspect of a severance package or ex gratia payment, as they are becoming a popular incentive for employers to use with their employees.

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Whistleblowing Settlement Agreements

Receiving a payment from your employer after whistleblowing is a fairly common way to conclude what can be a difficult chapter an employee’s career. It's a complicated area, but one we are happy to explain in our article.

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Unfair Dismissal

Unfair dismissal settlements are fairly commonplace, but in order to understand whether you deserve a severance package in your particular case it is necessary to understand more about unfair dismissal itself.

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Early retirement due to ill health

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 of ill health early retirement in the UK.

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Settlement Agreements for Harassment & Bullying

Protection against bullying and harassment can be found in a variety of laws. Employers are liable for bullying or harassment if it is conducted by colleagues in the work place.

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Tax Overview – Settlement Agreements

Tax queries in relation to ex gratia and settlement agreement payments are often some of the most complicated to answer. In this article we aim to summarise your position in relation to tax on your settlement.

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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.

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Are Pension Payments & Settlement Agreements Tax Free?

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 you need to consider when doing this.

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Obtaining References From Your Employer

To make sure that only the agreed reference is provided, you can ask for a clause in your agreement to say that prospective employers will be told that only the written reference will be provided.

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Concluding a Settlement Agreement

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.

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Sick Pay in Your Notice Period

If your notice period is a week or less above the statutory notice period, then you will be entitled to receive full pay throughout your notice period, despite being absent due to sickness or injury.

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