Employee Share Schemes: Equity Reward for Private Companies 2nd Edition

Author: Thomas Dalby
Publisher: Claritax Books
ISBN: 9781912386208

Previous Edition ISBN: 9781912386031
Published In: July 2022
Format: Paperback
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only

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Description
Contents

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The current regime for taxing employee shares can be traced back to FA 2003. The underlying principle is that value "gifted" to an employee is taxed as employment income, while organic growth in the value of securities benefits from capital treatment. That principle is worked out through a series of approved schemes, each with its own advantages and restrictions.

This book examines the different schemes and offers clear and practical guidance for employers considering the implementation of such schemes and for their professional advisers.

New for this edition:

FTT discussion of meaning of “securities” and subsequent amended HMRC guidance
Court of Session consideration of ITEPA 2003 provisions re “by reason of employment”
Court of Appeal consideration of older company reorganisation rules
Introduction of health and social care levy
Additional commentary and example re equity value
Additional commentary and example, and Supreme Court and other case law rulings, re chargeable event exemption for “normal” transactions
Court of Session ruling creating doubt over scope of statutory scheme for employment-related securities options
Detailed new commentary and examples reflecting change from former entrepreneurs’ relief to business asset disposal relief
New chapter added re foreign securities income
Five-year time limit for claiming deduction for contributions to employee benefit trusts
Report from Office of Tax Simplification commenting on CGT re growth shares
New chapter on practicalities of implementing a share scheme
Practical point re appointment of corporate trustees
Importance of working time declaration for EMI schemes
New chapter on employee-ownership trusts