The key behind any compromise agreement and the payment is to get the financial compensation that is right for you.
A couple of key points to remember with regards to the compromise agreement payment is:
- The vast amount of the payment (the first £30,000) is tax free, but you will need to talk to a solicitor to find out your precise tax implications.
- The payment can include unpaid wages, holidays you have remaining, loss of salary in the immediate future.
- Payment in lieu of notice (PILON).
- Bonus, commission or share awards payments.
- Payment against any potential unfair dismissal claims.
- The exact amount that will be fair for you differs from person to person and differs depending on specific situations and circumstances, talk to us and we can provide you will a genuine assessment on what we believe your compromise agreement is worth. DON’T LOSE OUT.
If you need any help with your settlement agreement and release from your contract then please get in touch with us.