The following Share Incentives practice note Produced in partnership with Jeremy Edwards of Baker McKenzie and Gill Murdoch provides comprehensive and up to date legal information covering:
This Practice Note discusses the taxation of internationally mobile employees and directors in relation to securities options (options) charged to tax within Chapter 5 of Part 7 of the Income Tax (Earnings and Pensions) Act 2003 (ITEPA 2003). The scope of the charge to income tax is important not only for the individuals themselves (in determining their income tax liabilities) but also for employing companies in determining the associated pay as you earn (PAYE) tax and National Insurance contributions (NICs) liabilities.
For information about how these rules apply to employment-related securities other than options, see Practice Note: Internationally mobile employees with employment-related securities.
This Practice Note considers only the UK income tax and NICs position. There may also be tax implications in other jurisdictions with which the individual or employing company is connected. These non-UK tax considerations are outside the scope of this Practice Note and local law advice should be taken.
Internationally mobile employees and directors are those individuals who work in different jurisdictions around the world (whether concurrently or consecutively). They include:
UK residents going overseas to work
overseas residents coming to the UK to work, and
UK and overseas residents who move in and out of the UK
For details of the PAYE and NICs implications for the employing company, see Practice Note: PAYE—readily convertible assets, intermediaries and jurisdictional scope.
There are also registration and reporting
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This Practice Note examines the doctrine of consideration and the key role it plays in English law in determining whether a contract is enforceable.A promise will only be capable of being contractually enforced if it is either made in a deed or made in exchange for something of value, known as
This Practice Note provides guidance on claims for ‘use and occupation’ or mesne profits, and how and when double rent or double value can be claimed.Claims for use and occupationA claim for use and occupation is possible where there is occupation of land without an express agreement fixing the
This Practice Note considers the doctrine of forum non conveniens, also referred to as the appropriate forum or the proper place for a dispute to be determined. This doctrine is of relevance when determining whether the courts of England and Wales have jurisdiction to hear a dispute and is applied
IntroductionShari'ah (also Sharia, Shariah or Shari’a) (literally, in Arabic, 'the path towards the watering place') or Islamic law is the legal system of the religion of Islam that sets out a system of duties or code of conduct for individuals to follow so that they may live their life in a
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