Dismiss poorly performing employees using a settlement agreement (formerly known as a compromise agreement). Contact us for more information.
Who Do Pitmans’ Settlement Agreement Lawyers Work For?
Pitmans’ Employment department acts for start-ups and SMEs as well as large corporates in the United Kingdom and internationally, receiving instructions from in-house lawyers, HR directors, HR managers, finance directors and other managers.
Our clients come from a wide range of sectors and our Employment department has a long-established and loyal client base.
The Employment department acts for directors and shareholders with shares or stock, LTIPs and other benefits subject to foreign law, in negotiating and concluding their severance package on their exit. This includes seeking to make the settlement as advantageous from a tax perspective as possible, calling upon specialist tax expertise where necessary.
Often the Employment department drafts or advises on Settlement Agreements in the context of transactions where, for example, an owner is leaving the business on sale.
The firm acts on the recommendation or introduction of employers who are not clients of the firm for large groups of individuals where that company has a large redundancy programme. We are happy to agree the form of Settlement Agreement and to travel to the employer’s site to make the process as efficient and painless as possible for the company concerned and for its employees.
Do Pitmans’ Settlement Agreement lawyers have any particular areas of expertise?
The Employment department has expertise in assessing claims, their merits and value and appropriate packages to conclude Severance Agreements efficiently. Settlement Agreements can be drafted quickly using an automated document generator.
We have particular expertise in relation to the taxation of payments in lieu of notice and potential ways of avoiding tax by following guidance issued by HMRC in relation to ways in which the payment can be made tax-free without having to pay a taxed payment in lieu of notice. The Employment department also has expertise in the National Insurance contribution treatment of termination payments.
The Partners in the Employment department have acted on a very large number of Compromise Agreements or Settlement Agreements over many years, developing great expertise and familiarity with common clauses in such agreements and an ability to spot anything that is non-standard, while taking a commercial and pragmatic view.
When acting for senior employees, Pitmans has Employment department has expertise in maximising the package, advising or obtaining advice from MI Interact colleagues where foreign law is involved, securing release or modification of restrictive covenants and obtaining favourable announcements and references to protect reputation and improve the prospects of getting other employment.
Why choose Pitmans’ Settlement Agreement lawyers?
Pitmans is able to deal with these matters expertly, quickly and in a commercial way. Not only can the firm call upon the high-level expertise and experience of the four Partners in the Employment department, there are also Solicitors who undertake a lot of this work under the supervision of a Partner where necessary, with great success.
We are used to working to tight deadlines especially in the context of corporate transactions and in the case of sales by administrators.
We appreciate the distress and financial loss a dismissal may cause for individuals and we are experts at identifying claims, maximising their value and structuring the Settlement Agreement in a tax-efficient way with the assistance of specialist advice where necessary.
We are also aware of the cost, risks and upset of litigation for individuals, which is why we always keep in mind the benefit of a good quick settlement and of focusing on looking to the future.