Loss of Earnings

Our team of forensic accountants provide detailed quantum assessments of loss of earnings for both self-employed and employed Claimants in personal injury and clinical negligence cases. 

We also have considerable expertise to assist in cases involving pension loss and loss of dependency.

We are regularly instructed in both Claimant and Defendant scenarios to apply our specialist expertise to calculate the loss of earnings elements in a wide range of cases and scenarios, including both past and future loss. We assist in cases valued at thousands to multi million pounds, and are also experienced in dealing with cases involving international elements.

Loss of Earnings Reports - Call 0113 387 5670 or Click Here

We offer forensic accounting expertise on an Expert or Agency basis to assess the Claimant's loss of earnings. Our experience can add real value in complex scenarios relating to all elements of loss for employed and self employed claims. Our approach is robust and thorough, acting on both a Single or Joint basis if required.


There can often be a myriad of different factors and scenarios to consider when assessing a Claimant's financial losses. 

Self Employed Loss of Earnings Claims

Quantifying self employed Claimant losses is complex and our team fully understand the different nuances of such cases, for example, if the Claimant operates as a sole trader, limited company or partnership.


We assist in a wide range of scenarios, which often interlink, such as:



  • Where pre and post accident / negligence trading patterns vary.
  • If the case involves a new start / growing business or there is limited trading history.
  • Where there has been a change in the nature of the business post accident / negligence, for example, the business has incurred additional working costs.
  • Complex corporate structures, for example, holding and trading companies.
  • Loss of Profit.
  • Loss of Opportunity / Loss of Chance scenarios.

 

We are happy to assist in the process of gathering all relevant information to substantiate the loss to the Claimant and their business, including accounting and sales records, details of lost contracts and expenses incurred, profit and loss accounts, tax returns and any collaboratory witness evidence.


Our team is happy to liaise directly with Claimants and deals with cases involving business owners, limited company directors, those in partnerships, trade / skilled workers and consultants.


Employed Loss of Earnings Claims

In cases involving employed Claimants we assist when earnings are more difficult to interpret, such as:

 

  • High earning individuals.
  • Public sector workers and those with Defined Benefit pension schemes.
  • Claimants with variable earnings, for example, involving commissions, bonuses and overtime.
  • Scenarios involving taxable benefits, such as company cars, private health insurance etc.
  • Lengthy period of absence.
  • Impacts on career progression.
  • Ill health retirement.

 

We have considerable experience of assisting in employed cases particularly employees in NHS, Police / Fire service, Armed Forces, Local Authority and Education. 


One key element in assessing cases for employed Claimants is in relation to pension loss which, since the introduction of Auto Enrollment, has become more complex. Click here for information on how we can assist you in Loss of Pension cases.


Forensic Accounting Services

In both employed and self employed Claimant scenarios we provide independent, detailed and robust loss of earnings reports encompassing all the information required to accurately assess and quantify the financial loss to the individual following the accident. We are happy to assist you in the information discovery process.

We provide flexible solutions and are happy to have an initial discussion about a potential case. Please also ask about our fee terms.

To discuss a Loss of Earnings report for a personal injury or clinical negligence case, call us today on 0113 387 5670

Alternatively you can send an email to enquiries@forthsonline.co.uk or fill out an Enquiry Form and a member of our team will contact you at the earliest possible convenience.

18 Apr, 2024
Undeclared Earnings - Making a Voluntary Disclosure to HMRC
By Liam Bottomley 10 Jan, 2024
Recent tax changes announced by Chancellor Jeremy Hunt may mean that any future loss calculations may require review. If you have an ongoing case that we have assisted with, we would be happy to discuss this with you. Likewise, for any potential new instructions we are always happy to have an initial chat. National Insurance Cuts On 6th January 2024 cuts to National Insurance rates will come into effect for employed Claimants: The main NI rate is being cut from 12% to 10%. From April 2024 for self employed Claimants: Class 4 NI rate will reduce from 9% to 8%, and; Class 2 NI contributions will be scrapped. The changes will affect future Loss of Earnings calculations. State Pension Changes There will also be a rise in State Pension of 8.5% from April 2024. Losses to State Pension are considered on a case by case basis. How We Can Assist Our experienced team assist with Loss of Earnings, Pension Loss and Loss of Dependency elements in all types of PI, Clinical Negligence and Fatal cases. Our approach is to ensure that your client’s Special Damages are optimised. We offer flexible solutions and reporting styles depending on the case requirements, and can assist you in the information discovery process. We are also happy to liaise directly with clients to assist in the progress of the case. For more information about our hourly rates for Expert CPR or White Label / Agency Services, and deferred payment terms, talk to our team. Contact us here Call us on 0113 387 5670 Email - enquiries@forthsonline.co.uk
11 Jul, 2023
In the 2023 budget, Chancellor Jeremy Hunt announced fundamental changes to the Annual Allowance and Life Time Allowance charges for pensions savers. What are The Allowances? The Annual Allowance is the amount that an individual can pay into their pension scheme (both their own and their employer contributions) each year before paying Tax on the contributions made. The Life Time Allowance is the total amount an individual’s pension fund can be before they pay additional Taxes on their pension benefits. What Has Changed? The Annual Allowance has increased from £40,000 per annum to £60,000 per annum. The Lifetime Allowance, which was £1,073,100, has been abolished. What Does This Mean for Your Client? If you have a high earning client (often in the public sector where employer contributions are more generous), then your current calculation of lost pension benefits may include deductions for tax under both the Annual and Lifetime Allowance schemes and so may now be materially understated. How Can We Help? Our team have vast experience in assessing pension loss claims for all types of occupations and are fully au fait with the changes to the Tax rules from April. We would be happy to carry out a review of your pension loss calculations either on a stand alone basis or in conjunction with other relevant heads of claim.
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Contact us today to find out how we can assist you...

To hear more about our Forensic Accounting Services or to discuss a potential case with a member of our team, call us on 0113 387 5670.

Alternatively, you can email us at enquiries@forthsonline.co.uk or fill out an Enquiry Form and we will contact you directly.
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