Are you being made redundant?
If so, the first thing you should do is see a solicitor with employment expertise.
The law requires that you take independent legal advice before signing such a binding agreement with your employer. The agreement means that you are effectively being “bought off” – your employer is paying you a sum of money, usually tax free in exchange for you giving up your legal rights to claim against your employer in a Tribunal or Court.
This is perfectly legal and quite common and a sensible way of avoiding the costs and time associated with litigation, but you need to know what the agreement terms mean, how they affect you, what other options you may have, and is it the best deal or package for you.
Your solicitor can help you with these things and sometimes negotiate a better deal for you, as well as advise you regarding any tax implications and the effect of any restraints of trade, references etc.
For more information please contact Andrew Egan on 01793 511055 or on
FREEFONE 0800 180 4835 or andrew.egan@clmlaw.co.uk
Last 5 posts by Andrew Egan
- Employment Newsletter February 2012 - January 18th, 2012
- New agency worker regulations – what should employers be doing? - July 6th, 2011
- Agency Workers Directive - Seminar 13th July 2011 - 9:30 - 11:30 a.m. - July 1st, 2011
- Don’t Let Restrictive Covenants Stifle Your Business Start-Up - March 10th, 2011
- New Retirement Age Could Spell Trouble for Employers - January 21st, 2011
