Brexit creates significant political, economic, legislative and market uncertainty. However, the need for assurance is essential to long-term commercial contracts.
As the Office of Tax Simplification looks to change the existing rules around termination payments, we wonder tax simplification is always the best option. Sometimes a more complex tax system is a price worth paying for commercial flexibility.
The settlement agreement offers employers a useful tool offering a clean way of terminating someone’s employment without having to undertake long and difficult procedures involving substantial management time. At the same time, there are various risks attached for an employer in offering a Settlement Agreement to an employee, of which employers need to be aware of.