Unapproved options and phantom share awards/SARs

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Practice notes
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Practice notes
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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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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
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Practice notes
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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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Practice notes
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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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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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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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Most recent Unapproved options and phantom share awards/SARs content

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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23rd Jun
Precedents
Board minutes—approving the adoption of an unapproved option plan and the grant of unapproved options[insert name of company adopting the unapproved...
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21st Jun
Practice notes
The advantages and disadvantages of each share incentive arrangementThis Practice Note seeks to summarise the main advantages and disadvantages of...
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14th Jun
Practice notes
Parallel optionsThe purpose of this note is to outline the main areas where parallel options are typically of use, how they impact upon other share...
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Produced in partnership with Will Cookson 9th Jun
Precedents
Unapproved share option agreement—standalone deed for employeeThis AGREEMENT is made on [insert date of execution of the share option...
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7th Jun
Precedents
Standalone unapproved share option agreement for non–employeeThis AGREEMENT is made on [insert date of execution of the share option...
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7th Jun
Precedents
Phantom share award plan rulesRULES OF THE [insert name of company] PHANTOM SHARE AWARD PLANAdopted by the Board on [insert date] 1DefinitionsIn these...
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Produced in partnership with Stephen Diosi and Caroline Nye-Wilkins of Mischon de Reya 7th Jun
Precedents
Phantom share option agreementThis AGREEMENT is made on [insert date of execution of the share option agreement]Parties1[insert name of company whose...
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7th Jun
Q&As
Is it possible to grant unapproved share options in the same company at different option prices?From a share incentives perspective, it is possible to...
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6th Jun
Q&As
If an SAR or RSU needs to be reported to HMRC, which section of the HMRC online share schemes return form must be used in order to report their grant...
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6th Jun
Q&As
Do phantom options and SARs need to be reported to HMRC as part of the annual online employee share schemes return?Employers (or other responsible...
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6th Jun
Q&As
Does section 144ZA of the Taxation of Chargeable Gains Act 1992 still apply in respect of unapproved options which can be settled in cash?Section...
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6th Jun
Q&As
Will income tax arise in relation to a share option granted to a non-employee?This answer can vary greatly depending on the exact circumstances and...
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6th Jun
Q&As
Will an RSU be a securities option if the only circumstances in which it can be cash-settled are where it would be unlawful to issue shares?In order...
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6th Jun
Q&As
What happens to restricted stock units or stock options that have vested during an employee's notice period (assuming the employee is still employed...
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6th Jun
Q&As
What is the difference between a phantom option and an SAR?A phantom option is a right to receive a cash payment on a specified future event which...
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6th Jun
Q&As
On a sale of shares under an employee share scheme, can the employee deduct their transaction costs from the sale proceeds?Please note that for the...
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6th Jun
Q&As
In what circumstances will HMRC give advance confirmation of the value of unlisted shares for employee share acquisitions, and how long will HMRC’s...
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6th Jun
Precedents
Covering letter to unapproved option holders for options granted pursuant to unapproved share option rules and agreement[insert date of letter][insert...
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5th Jun

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