Companies looking for offices to rent in Cardiff may want to take note of one law firm's advice about terminating staff.
In an interview with HR magazine, Dechert described how on April 6th changes will be introduced by HM Revenues & Customs that will affect income tax.
From this date, organisations will have to withhold income tax rates of up to 50 per cent in comparison to the current 20 per cent, when making post-termination payments.
Charlie Wynn-Evans, the firm's head of employment practice, explained that despite the new policy being three months away, businesses should already be taking the changes into consideration.
"Employers should keep an eye on any further guidance that comes out from the Revenue and make sure that termination negotiations and severance agreements comply with the new regulations," he stated.
Dechert is a worldwide company and works across a broad range of industries and practice areas.
