SIP—basic principles

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Practice notes
How CSOPs work and key featuresThis Practice Note covers the following topics in high level detail:•what are CSOPs?•the law governing CSOP options•the...
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19th May
Practice notes
The Quoted Companies Alliance (QCA) Corporate Governance CodeThe Quoted Companies Alliance (QCA) is an independent membership organisation that...
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19th May
Practice notes
Payments for a director’s loss of officeThe Companies Act 2006 (CA 2006) contains provisions relating to payments made by a company to a director as...
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19th May
Practice notes
How employment income is taxed—non-cash earnings or benefitsIn addition to cash earnings, such as wages or salaries, many reward packages include...
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19th May
Practice notes
IFPRU Remuneration CodeBREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period...
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19th May
Practice notes
Unapproved share options—tax treatmentSpecific income tax rules (in sections 471–487 of the Income Tax (Earnings and Pensions) Act 2003 (Part 7,...
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19th May
Precedents
FORTHCOMING CHANGE: On 18 March 2021, it was announced that the government was launching a consultation on wide-ranging reforms to modernise the...
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Produced in partnership with Sam Whitaker of Shearman & Sterling 19th May
Practice notes
Brexit legislation trackerThis Practice Note tracks the progress of UK legislation introduced as part of the legislative project associated with the...
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19th May
Practice notes
Non-executive directors—independenceThe concept of independence is key to provisions in the UK Corporate Governance Code (UKCG Code) on board...
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Produced in partnership with Advanced Boardroom Excellence 19th May
Practice notes
FATCA in the UK—the UK:US Intergovernmental Agreement: an outlineIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit...
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Produced in partnership with Ali Kazimi and Chris Orchard of Hansuke Consulting Limited 19th May
Practice notes
Introduction to retained EU lawThis Practice Note provides an introduction to retained EU law. It provides an overview of the key definitions and...
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Produced in partnership with Dr. Kieran Laird of Gowling WLG 19th May
Practice notes
The Budget and Finance Bill processThe Budget is a Parliamentary event at which the Chancellor of the Exchequer makes important announcements relating...
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19th May
Practice notes
Unapproved share optionsWhat are unapproved share options?Share options are rights to acquire shares which can be exercised when certain conditions...
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19th May
Practice notes
EMI—trading activitiesEMI Review: In the Spring Budget 2020, the government announced that it will review the enterprise management incentives (EMI)...
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19th May
Practice notes
Comparison of UK and US share incentive arrangementsCompanies in both the US and the UK have a long history of involving employees in equity...
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Produced in partnership with Jonathan Fletcher Rogers of Addleshaw Goddard 19th May
Practice notes
How do I contact HMRC with a share schemes related query?HMRC consists of specialist departments dealing with specific areas of employment related...
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19th May

Most recent SIP—basic principles content

Precedents
SIP rules1Definitions and interpretation1.1The following words and expressions have the following meanings:Accumulation Period•in relation to...
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Produced in partnership with Jonathan Fletcher Rogers of Addleshaw Goddard 7th Jun
Q&As
Does a Share Incentive Plan trust have to be registered with HMRC’s online Trust Registration Service?A Schedule 2 Share Incentive Plan (SIP) must...
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6th Jun
Q&As
What is the procedure for terminating a share incentive plan (SIP)?If a company wishes to terminate its Schedule 2 share incentive plan (SIP) before...
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6th Jun
Q&As
Can shares be awarded to employees completely tax-free?Even shares awarded pursuant to enterprise management incentives (EMI) schemes, still at best,...
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6th Jun
Practice notes
Comparison of the share incentive plan (SIP) provisions of the Employee Share Schemes User Manual (ESSUM) and the Employee Tax Advantaged Share Scheme...
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5th Jun
Practice notes
When is a SIP appropriate?Are SIPs always appropriate?Due to the different type of awards that may be made under a share incentive plan (SIP), there...
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Produced in partnership with Jonathan Fletcher Rogers of Addleshaw Goddard 5th Jun
Practice notes
What is a SIP?This Practice Note provides an introduction to the HMRC tax-advantaged share incentive plan (SIP). It provides a summary of:•the types...
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Produced in partnership with Jonathan Fletcher Rogers of Addleshaw Goddard 5th Jun
Practice notes
Comparison of UK and US share incentive arrangementsCompanies in both the US and the UK have a long history of involving employees in equity...
Read More >
Produced in partnership with Jonathan Fletcher Rogers of Addleshaw Goddard 5th Jun
Practice notes
Types of SIP awardsSchedule 2 to the Income Tax (Earnings and Pensions) Act 2003 (ITEPA 2003) uses the phrase an ‘award of shares’ to identify shares...
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Produced in partnership with Jonathan Fletcher Rogers of Addleshaw Goddard 5th Jun
Precedents
Board minutes—approving the adoption of a SIP and the invitation to participate in awards[insert name of company adopting the SIP] (the...
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Produced in partnership with Jonathan Fletcher Rogers of Addleshaw Goddard 5th Jun
Precedents
Invitation for award of SIP partnership and matching sharesInvitation to buy partnership [and receive matching shares] shares under the [insert name...
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Produced in partnership with Jonathan Fletcher Rogers of Addleshaw Goddard 5th Jun
Precedents
Invitation for award of SIP free sharesAward of free shares under the [insert name of company] Share Incentive PlanWe are pleased to tell you that you...
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Produced in partnership with Jonathan Fletcher Rogers of Addleshaw Goddard 5th Jun
Precedents
SIP trust deed[insert name of company]Trust deed [insert name of company] Share Incentive PlanThis Deed is made onBETWEEN1[INSERT NAME OF COMPANY], a...
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Produced in partnership with Jonathan Fletcher Rogers of Addleshaw Goddard 5th Jun
Precedents
Resolution to adopt a SIP for a listed companyThat:1the [insert name of company] Share Incentive Plan (SIP), the trust deed and rules of which are...
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Produced in partnership with Jonathan Fletcher Rogers of Addleshaw Goddard 5th Jun
Precedents
SIP Partnership share agreement including matching sharesParties1ParticipantName: [insert name of participant]Home Address: [insert address of...
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Produced in partnership with Jonathan Fletcher Rogers of Addleshaw Goddard 5th Jun
Precedents
SIP Free share agreementThis agreement is between:Parties1ParticipantName: [insert name of participant]Home Address: [insert address of...
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Produced in partnership with Jonathan Fletcher Rogers of Addleshaw Goddard 5th Jun

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