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Settlement Agreement Solicitors
Whether you have been made redundant due to the economic impacts of the Coronavirus pandemic, in the midst of a disciplinary procedure, or have an ongoing dispute with your employer, you may be entitled to, or even offered, a settlement agreement.
At PSR Solicitors our team of specialist Settlement Agreement Solicitors will advise you fully on the implications of signing an agreement, we will negotiate directly with your employer on your behalf to ensure you are offered the optimum sum and most favourable terms that reflect the seniority of your position and the value brought to your employer's company during your employment. We always endeavour to negotiate the terms of your agreement in a positive way ensuring your exit from the company is on fair and amicable terms, providing you with a suitable financial settlement and a strong employee reference, with which to move forward in the next step of your career.
Our Lexcel Accreditation proves that you are guaranteed exceptional client service throughout the process, keeping you involved and informed at every stage, whilst our experience and expertise ensures we will resolve your settlement agreement within the anticipated deadlines, and within the legal costs contribution your employer will cover.
A Settlement Agreement (formerly known as a Compromise Agreement) is a legally binding contract made between an employer and employee, ordinarily following the termination of an individual’s employment, either due to redundancy or dismissal, and aims to set out the full terms between both parties.
It can also be used as a mechanism for concluding an ongoing employment dispute between an employer and their employee, i.e. dispute regarding discrimination, unpaid wages, or unfair dismissal.
In order for the agreement to be legal binding, the employee must receive independent legal advice from a qualified legal professional, who will be required to sign the agreement to certify that legal advice was given.
At PSR Solicitors, we are experienced in providing expert, independent legal advice in relation to settlement agreements so if you are due to be made redundant or are currently in dispute with your employer, contact us.
A settlement agreement is often in the best interest of both parties. The employer has the peace of mind that they will not have to deal with a claim at a later date from that employee.
In return for sacrificing the right to claim at a later date, the employee will often be able to negotiate an enhanced severance package and, depending on the circumstances of the termination of employment, sometimes be able to secure a more favourable reference.
The Advisory, Conciliation and Arbitration Service (ACAS) Code of Practice on settlement agreements recommends that you should be given at least 10 calendar days to consider any offers of settlement, however, this can be more or less if agreed between the parties.
It’s important to carefully consider any offers. Circumstances can vary greatly, and you should not be pressured into accepting a low offer. However, you may receive a valuable offer which may be more favourable than what you could obtain from a tribunal case. Our Settlement Agreement Solicitors can advise you regarding any offers you have received, and help you negotiate the best possible outcome for you.
Recognised by statute, a settlement agreement is legally binding if certain legal requirements are fulfilled. A key criteria is that the employee must receive independent legal advice from qualified employment lawyers, who will be required to sign the agreement to certify that legal advice was given.
At PSR Solicitors, we are experienced in providing expert, independent legal advice in relation to settlement agreements and will ensure that you receive relevant and accurate advice.
PSR Solicitors will always endeavour to recoup our legal fees by seeking payment from your employer rather than from you and hence, you will receive the full sum of money owed to you as stated in the Settlement Agreement.
You will receive your payout within an agreed timeframe. This should be specified within the agreement, where a time limit for payment of the compensation element of the agreement will be stated.
Whether tax is payable depends on the structure of the payment. You will ordinarily be required to pay tax and national insurance on any wages and holiday pay. Where payment is being made in compensation for loss of employment, the first £30,000 of a settlement is usually paid free of deductions for tax or national insurance contributions. Redundancy payments up to £30,000 (both contractual and statutory) are usually tax-free. By virtue of the fact that certain components of the compensation are paid free from tax and national insurance deductions, a tax indemnity is always given by the employee.
Ordinarily, you will only be able to make four types of legal claims against your employer:
The details of what type of claims you could still be entitled to after settling is going to depend on your circumstances. The Settlement Agreement Solicitors at PSR Solicitors can advise you about your rights, and support you through the legal process.
This depends on the terms of the agreement. Some include confidentiality clauses which prohibit you from discussing the terms of the agreement, whilst allowing you to tell people that you came to an agreement with your employer. Others prohibit you from even discussing that a settlement agreement has been agreed.
An agreement may also include a non-derogatory statement clause. This prohibits you from making derogatory comments about the company and people that work for the company. It is therefore advisable to err on the side of caution and be careful about what you say about your employer or previous colleagues in public, as your comments could feed back to the employer.
The always available human contact is only improved through the online application they use to constantly update you throughout the whole process.
I could not be happier with the service Toni & the team provided. Great online portal so you can see where things are up to & just all round the best I’ve used… thank you!
I have dealt with many firms over the years, and this firm has been on another level compared to others. The customer service, knowledge and speedy completion of the sale was much appreciated.
Settlement Agreements are a specialist area of Employment Law so it is vital that you instruct a firm of employment solicitors with the required skill and expertise to secure you a positive outcome.
PSR’s Settlement Agreement Solicitors have been negotiating with both employers and employees for over 10 years, using their skills and experience to ensure clients understand their options throughout the process, their rights are protected and that they receive the best settlement terms available.
By instructing PSR Solicitors you are guaranteed a legal team with the technical knowledge and experience to ensure the most favourable settlement terms possible, whilst negotiating a compensation package that reflects the strength of your potential claim.
We will always aim to resolve any disputes without the need of a hearing at an employment tribunal, however we do possess the experience and knowledge to support you through a tribunal case.
We have a formidable reputation across the industry for resolving even the most difficult of cases within the anticipated deadlines, and within the legal costs contribution from your employer.
Established in 2009, PSR is one of the leading firms of Settlement Agreement Lawyers across North Wales, Cheshire & the Wirral. With offices in Colwyn Bay, Ellesmere Port, Rhyl, Shotton, Wrexham, Wallasey, and Chester, we are best placed to advise you on all aspects of Settlement Agreements.
Our Lexcel Accreditation assures you of unrivalled client service. As a client of ours, you will always know who exactly is dealing with your case at every stage, being allocated a dedicated expert to manage the process from start to finish, with our streamlined process allowing us to offer expeditious advice to ensure the frequent deadlines met and ensuring your agreement within the anticipated timescales and within the legal costs contribution from your employer, invoicing your employer directly in respect of their fee contribution.
Our Settlement Agreement Lawyers are an integral part of our wider Dispute & Litigation Solicitors. Contact us for a free, no-obligation chat about your situation and what your employers have offered so far. We will be happy to assist and answer any initial questions you may have.
PSR Solicitors are recognised experts in resolving disputes and debt related matters in North Wales & Cheshire.
Nia Edwards LLB (Hons)
Solicitor - Head of Private Client & Probate
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