Settlement agreement solicitors in Taunton
If you are looking for settlement agreement solicitors based in Taunton then give us a call. We will discuss how we can help you and advise on how employers usually pay the legal fees associated with a settlement agreement. Call Taunton 01823 354545 or send us an email at [email protected]
We are specialist settlement agreement solicitors in Taunton.
When is a settlement agreement used?
A settlement agreement is a legally binding document that sets out the terms of a settlement that has been reached between an employer and employee. It usually provides for the employee to receive a sum of money or another benefit in return for agreeing not to bring an employment claim against the employer.
Settlement agreements are often used where the relationship between employer and employee has broken down and they each wish to go their separate ways. They are also used when redundancies are made.
A settlement agreement can be used to resolve a dispute between an employee and an employer and may be suggested during a ‘protected conversation’, which is an off-the-record chat that takes place under section 111A of the Employment Rights Act 1996.
By agreeing to resolve matters by way of a settlement agreement the need for stressful and expensive disciplinary proceedings or redundancy processes can be avoided. It also allows employers to regulate their financial exposure and include key provisions in relation to confidentiality and restrictive covenants.
For a settlement agreement to be legally enforceable the law says that the employee must take specialist legal advice.
Our settlement agreement advice
When advising an employee on a settlement agreement, we consider a range of legal factors, including:
- When and how the financial settlement payment will be paid;
- The tax position;
- Confidentiality; and
- References.
What it will it cost the employee?
In most cases our service will cost the employee NOTHING. This is because the employer will normally pay the legal fees for the settlement agreement advice.
And even though you do not have to pay the legal costs yourself, our advice to you remains entirely independent.
Settlement agreement solicitors in Taunton are here to help. Call Taunton 01823 354545 or email us.