Why is the Schedule of Loss important?
A Schedule of Loss is very important for your Employment Tribunal claim. It is very important for your Employment Tribunal claim since it tells the Judge how much you think you should be paid if you are successful. The Employment Tribunal will usually order you to produce a schedule of loss and show how you have calculated each amount you are claiming for your losses. You don’t get what you don’t ask for in your schedule of loss and you can mess up your entire claim if you get it wrong.
The Employment Tribunal will usually order you to prepare the schedule of loss quite early in the proceedings, so that it can be used in settlement negotiations or judicial mediation. It is a good idea to start preparing it immediately after you submit your claim because of the amount of work that goes into preparing it, and also because you want to refer to it in your witness statement. You will go through several incarnations of your schedule of loss, but you must update it when you get close to the hearing date. The schedule of loss is a guide and is not usually conclusive as to what you will actually get if you are successful.
The schedule of loss calculates an amount for each of your losses which is then totalled up to provide a final amount for compensation. Your losses are called 'Heads of Loss’ and your schedule of loss will show how much you are claiming under each head of loss. The schedule of loss is made up of;
- The Basic Award
- The Compensatory Award
The Schedule of Loss Calculator
The schedule of loss calculator provides detailed guidelines for preparing different types of schedules for different claims. Your schedule of loss will build on a number of assumptions, and the calculator will help you calculate those assumptions as accurately as you possibly can. It helps you calculate your compensation with precision and comes with guidance and tips for success at each step. Your losses are easy to calculate because the formulas are built-in together with adjustments such as the ACAS uplift, grossing up options and interest. You input your information into the data fields and it calculates your compensation for you, making sure that you claim everything you are entitled to correctly. You can save and return to it later. When you have finished, you can download it to your desktop ready to send to the Employment Tribunal. Members can access the schedule of loss calculator as part of their Membership. Free users must pay to access the calculator.
Counter Schedule of Loss
Your Employer will most likely dispute your schedule of loss. Your Employer will do this through a counter-schedule of loss which will detail their views on your schedule of loss and what they believe to be a more accurate figure.
Last Updated: [18/10/2022]