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  • 1,500+ Business Documents - Settlement agreement
    Settlement agreementWhen you want to prevent an employee from issuing proceedings in relation to the infringement of their statutory employment rights on termination of their employment, consider going down the settlement agreement route. This is an alternative to going through time-consuming dismissal procedures. In addition, it can also be used to settle serious employee disputes, such as allegations of constructive dismissal or unlawful discrimination.Negotiated terminationsSometimes, it will become necessary...
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  • 1,500+ Business Documents - Golden hello payment letter
    Golden hello payment letterAn inducement payment will sometimes be made to a new employee. Such a payment will normally be taxable. Exceptionally, it may be tax-free if you can demonstrate that the payment is not by reason of the employment. How can you establish this?Lump sum paymentA "golden hello" is a popular term for a lump sum payment received on the taking up of employment. Normally, tax is due on these payments as if they were salary. However, if the payment is an inducement rather than a reward for...
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  • 1,500+ Business Documents - Termination payment letter
    Termination payment letterYou need to take account of both the legal and tax issues when drafting documentation for dealing with a termination payment. But if you don't have any employment issues with the departing employee it's arguable that the payment can be made tax free (subject to the £30,000 tax-free limit). Use this document to improve your chances of HMRC agreeing with you. The tax-free letterThe major downside to having a Pay in Lieu of Notice (PILON) Clause, is that the payment is then taxable as...
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  • 1,500+ Business Documents - Directors' benefits in kind - board minutes and contract clause
    Directors' benefits in kind - board minute and contract clauseWhere your company provides a director with benefits in kind, it's good practice for the arrangement to be recorded in a board minute and in the director's contract. remunertation packageThere is no need for any special wording for a board minute. The purpose is only to record that the board approved the method of remuneration for a director, therefore you just need a statement of the facts as a record for future reference. Where the nature of a...
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  • 1,500+ Business Documents - Termination payment minutes
    Termination payment minutesYou can use company law formalities to support your case that a termination payment is not ordinary earnings and hence not taxable (up to a £30,000 limit). What's involved?Ex gratia minutesIf possible, agreement to make a termination payment, and its approval by the board using Termination Payment Minutes, should be made after employment ceases. Where this is not practicable, any reference in any minute or document should be as brief as possible and refer to the payment only as being...
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  • 1,500+ Business Documents - Employee personal appreciation gift letter
    Employee personal appreciation gift letterThere are very few circumstances in which an employee can receive tax-free cash from an employer. But a gift made "on personal grounds" or as a "mark of appreciation" might be one of them. How do you go about proving this to the HMRC's satisfaction?A personal giftWhere cash paid to an employee is a genuine gift in recognition of some personal quality, and is in no sense a reward for performing duties past, present or future, then it can be paid tax-free. HMRC's instructions...
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