Settlement agreement legal advice from an expert adviser can be invaluable.
Settlement agreements involve an employee waiving their right to legal action against their employer, often in relation to redundancy.
Redundancy and settlement agreements are two separate things, though, despite them sometimes being related.
If you’ve been offered a settlement agreement, or if your employer is considering offering you a settlement, then it might be wise to seek advice…
Settlement Agreement Advice
When it comes to employment issues, it’s always wise to seek advice from an expert on what your best course of action is.
That might be a union representative, the citizen’s advice bureau, a colleague, or an employment solicitor.
When you’re trying to come to an arrangement around the end of your employment (which is due to circumstances out of your control), it’s important that you get a package you’re happy with, whether that’s financially or otherwise.
For example, knowing that the first £30,000 of any settlement agreement is tax-free is important for informing your decision.
That figure includes:
- Termination payments (financial settlement)
- Any remaining salary
- Any other outstanding payments, including notice pay, holiday pay, and bonuses
Non-financial agreements form a key part of settlement agreements, too. That could be non-disclosure agreements, written confirmation of you officially waiving your right to legal action, and other important agreements.
Having someone on your side who is a legal expert can be invaluable, especially when it comes to knowing what your employer is looking for, where it’s best to settle, and what a fair agreement would be.
Is A Settlement Agreement Better Than Redundancy?
The positives of a settlement agreement are obvious – the employee gets more money, and the employer can spend more time running their business.
Avoiding having to go through the redundancy process where one or both parties might become agitated is clearly beneficial…
But you don’t have to accept a settlement agreement just because your employer offered it, and it doesn’t affect an employer’s ability to proceed with the redundancy process either.
It might be that your best course of action is to query whether or not the redundancy process has been conducted fairly, and whether an unfair dismissal claim might actually be your best course of action.
But the reality is that there are several benefits to settlement agreements, including:
- Financial settlements in settlement agreements are usually higher than through redundancy
- The process is concluded quicker so that you can move on to your next opportunity or start planning your future
- The process can be concluded without animosity and on amicable terms
Settlement Agreement Solicitors Near Me
Settlement agreements can be complicated and dealing with the end of your employment can also be a difficult time…
This is why having a settlement agreement solicitor acting on your behalf can be crucial to achieving a positive outcome from your perspective.
And at Solicitors Near Me, we’re here to help.
We connect you with employment solicitors near you for FREE so you can get redundancy advice and resolve your situation..
There’s no obligation to proceed with the solicitor that we connect you with, and there’s no cost until you make a decision, either…
Settlement Advice Near Me
Whatever your needs, there’s a solicitor near you that help you with settlement legal advice…