Glossary
- 3rd F
- Advisor
- BA
- Balance Sheet
- BAN
- Barrier to Entry
- BP
- Business Angel
- Business Angel Network
- Business Plan
- Business Thumbnail
- Carbon Reduction Commitment
- Cash Flow Forecast
- Coach
- Conditions Precedent
- Copyright
- Corporate Social Responsibility
- CRC
- CSR
- Data Protection Act
- DD
- Director
- Disclosure Letter
- DPA
- Due Diligence
- Early-stage
- EIS
- Enterprise Investment Scheme
- Entrepreneur
- Equity
- Executive Summary
- Exit Multiple
- Expansion
- Family, Friends and Fools
- FFF
- Founder
- Gross Value Add
- GVA
- High Net Worth
- HM Revenue and Customs
- HMRC
- HNW
- IM
- Incubator
- Information Memorandum
- Intellectual Property
- Internal Rate of Return
- Investor
- Investor Ready
- IP
- IR
- IRR
- Loan
- Long Term Incentive Plan
- LTIP
- Management Buy In
- Management Buy Out
- MBI
- MBO
- Memorandum of Association
- Memorandum of Understanding
- Mentor
- MoA
- Money laundering
- MoU
- National Minimum Wage
- NED
- Neo Linguistic Programming
- NLP
- NMW
- Nomad
- Nominated Adviser
- Non-Executive Director
- Offer Letter
- Patent
- Positive Ratchet Clause
- Pre-start
- Preference Shares
- Principles
- Profit and Loss
- Ratchet
- Risk Premium
- Sales of Goods Act
- Shadow Director
- Shareholder Agreement
- Shares
- Small or Medium Enterprise
- SME
- SME
- SoGA
- Sophisticated Investor
- Start-up
- Sweat Equity
- Total Shareholder Return
- Trade secret
- Trademark
- TSR
- Unique Perceived Benefit
- Unique Selling Proposition
- UPB
- USP
- Warranty
- White Meeting
Payment in Lieu of Notice (PILON)
An employer may elect to make a payment in lieu of notice when terminating an employee's contract. This payment may (or may not) incur a tax liability for the employee and employer so legal advice is recommended before such an arrangeable is agreed or executed.
For more information, select this outbound link to Tax treatment of PILONS.
