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Employee Share Schemes 7th Edition

Employee Share Schemes 7th Edition

Author: Mark Ife
Publisher: Bloomsbury Professional (formerly Tottel Publishing)
ISBN: 9781526501202

Previous Edition ISBN: 9781780432311
Published In: March 2018
Format: Paperback
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only

New Edition is available now !

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Description
Contents

Details

Aimed at tax advisers, legal practitioners, remuneration advisers, HR executives, finance directors and company secretaries, Employee Share Schemes provides a comprehensive review of the key issues and techniques needed to create and operate share plans.

It includes, in particular, guidance on the impact that events such as grants, exercises, takeovers, share capital variations and cessations of employment have on the operation of share schemes.

Includes coverage of:

The final report and recommendations from the Executive Working Group to rebuild trust in executive pay structures in the UK, following consultation with over 360 investors, asset owners and company employees and the Investment Association guidelines which take into account this report;
The EU Market Abuse Regulation following the abolition of the UK Listing Authority Model Code.

Chapter 1: Introduction

Chapter 2: Types of Scheme Available

Introduction

Discretionary schemes

Schemes for all employees

Other arrangements

Chapter 3: The ABI/Investment Association and other Institutional Investor Guidelines

Introduction

Current guidelines

Historical development of the ABI Guidelines

Summary of current ABI Guidelines

Chapter 4: Establishment of Schemes

Introduction

Companies Act 2006

Prospectus Rules

Financial Services and Markets Act 2000

Listing Rules

Model Code on directors' dealings in securities

Establishing a scheme or plan

Scheme shares – approved schemes under ITEPA 2003

Valuations of shares

Employee communications

Duration of a scheme

Renewal of schemes

Appendix 4A: Recognised Stock Exchanges

Chapter 5: Discretionary Share Option Schemes

Introduction

Principal differences between CSOP options and 'unapproved' share options

Unapproved share options

CSOP share options

Eligibility criteria in share option schemes

Grant of options

Procedure

Price

Non-transferability of an option

Individual participation limit

Scheme limits

Exercise of options

Exercise by employees

Exercise by former employees

Performance targets

Amendments to CSOPs

Appendix 5A: Discretionary Share Option Scheme Rules

Chapter 6: Enterprise Management Incentives

Introduction

Comparison with CSOP options

Qualifying options

Requirements to be satisfied

Income tax

Capital gains tax

Replacement options on a change of control

Annual returns

HMRC power to require information

Share valuations

Appendix 6A: Enterprise Management Incentive Agreement

Chapter 7: LTIPs: Performance, Deferred, Matching, Restricted and Convertible Shares

Introduction

Performance shares

Deferred shares

Matching shares

Restricted shares

Convertible securities

Accounting for LTIPs

The company's tax position

Trustees' tax position

Other structuring issues

Appendix 7A: Performance Share Awards

Appendix 7B: Deferred Share Awards

Appendix 7C: Matching Shares Awards

Chapter 8: Share Incentive Plans or SIPs – General

Introduction

Types of plan

Appointment, retirement and removal of trustees

Powers and duties of trustees

Group plans

Tax-advantages status of a plan

Eligibility

Types of share that may be used

Income tax on a SIP – general principles

PAYE and NICs

Capital gains tax

Miscellaneous

Operating the plan

Chapter 9: SIPs – Free Shares

Introduction

Maximum annual award

Performance allowances

The holding period for free (and matching) shares

Income tax charge on free (and matching) shares

Corporation tax deductions for free (and matching) shares

Chapter 10: SIPs –

Partnership Shares

Introduction

Partnership share agreements

Tax relief for partnership share money

Tax charges in partnership share monies paid over to the employee

Tax on cancellation payments in respect of partnership share agreement

Partnership shares ceasing to be subject to the plan

Chapter 11: SIPs – Matching Shares

Introduction

General requirements for matching shares

Ratio of matching shares to partnership shares

Income tax, capital gains tax and corporation tax

Appendix 11A: Share Incentive Plan

Chapter 12: Savings-related Share Option Schemes

Introduction

Eligibility criteria

Timing

Procedure

Price

Scaling down

Board resolution to grant options

Option certificate

Employee communications

Non-transferability of options

Savings contract

Scheme limits

Exercise of options

Appendix 12A: Savings-Related Share Option Scheme

Chapter 13: Takeovers, Reconstructions, Demergers and Dividends

Takeovers

Schemes of arrangement

Voluntary winding-up

Demerger

Dividends

Share incentive plans

Special dividends

Scrip dividends

Chapter 14: Variations of Share Capital

Introduction

Listing Rules

Approved schemes

Rights issues

Capitalisation issues

Sub-divisions and consolidations

Reduction of share capital

Other variations of share capital

Chapter 15: Accounting and the Statutory Corporation Tax Deduction

Accounting for share awards

Statutory corporation tax deduction

Chapter 16: EBTs and Using Existing Shares

What is an EBT?

Employees' share schemes linked to an EBT

Financing of EBTs

Establishment of an EBT

Tax aspects

EBTs and share options

Accounting for EBTs

Listing Rules

Disclosure and Transparency Rules

ABI Guidelines

Directors' report and accounts

Model Code

FATCA

Disguised remuneration

Chapter 17: NISAs and Pension Plans

ISAs

Registered pension schemes and SIPPs

Employee share schemes

Chapter 18: Administration and tax returns

Administration

Tax returns

Chapter 19: Internationally Mobile Employees

Introduction

General taxing provisions in the UK

Residence and domicile

Share options

Restricted securities

Domicile and remittance

Tax-advantaged share plans

Social security treatment

Chapter 20: Cross-border Share Plans

Introduction

Extending UK tax-advantaged plans to overseas employees

UK tax-advantaged addenda to overseas schemes

Establishment of schemes for overseas employees

Overseas laws and the making of share offers to overseas employees

Other administrative matters to be taken into account

US employees

Employee benefit trusts

Index

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