Categories:Employment,Tax,UK

A gross injustice avoided — employer allowed to make settlement payment net of tax

When the claimant in Barden v Commodities Research Unit International was dismissed as chief executive officer, he entered a severance agreement, including payment of a long-term incentive plan (LTIP). When the LTIP was not paid, he issued proceedings, which were eventually settled after mediation. The settlement agreement, signed in the early hours of the morning, provided for a ‘settlement sum’ of £1.35m to be paid to the claimant. The tax treatment of the sum was not mentioned in the agreement…

If you are registered and logged in to the site, click on the link below to  read the rest of the Hogan Lovells briefing. If not, please register or sign in with  your details below.

Briefings from Hogan Lovells

View more briefings from Hogan Lovells

Analysis from The Lawyer

View more analysis from The Lawyer

Overview

Atlantic House
Holborn Viaduct
London
EC1A 2FG
UK
http://www.hoganlovells.com

Turnover (£m): 1,030.00
No. of Lawyers: 2,280
No. of Lawyers (Asia Pacific): 204
Offices (Asia Pacific): 9