Produced in partnership with Jenny Wheater of Duane Morris LLP [insert date of letter] This document summarises certain changes to the contractual terms and conditions of...
This Practice Note sets out the details of the apprenticeship levy, which is payable by certain employers from 6 April 2017. The levy is charged at a rate of 0.5% of an...
Contributed by Chris Coulston and Harry Stead, Deloitte LLP The funding of defined benefit pension schemes and the volatility and risk associated with these schemes has...
Authorised payments v unauthorised payments A pension scheme that has registered with HM Revenue & Customs (HMRC) benefits from favourable UK tax treatment. Broadly, this...
THIS PRACTICE NOTE APPLIES TO UK REGISTERED PENSION SCHEMES What is a benefit crystallisation event? Under the UK’s registered pension scheme regime (for more information...
Bonuses can be a very effective tool to motivate and retain employees while allowing businesses to control wage costs. In certain sectors and industries (eg the financial...
Produced in partnership with Vaneeta Khurana of EY LLP [Insert client’s address] Income tax treatment of staff entertainment and gifts to employees and directors 1...
Convertible securities are: • employment-related securities (see: What is an employment-related security?) • with the capacity to convert into securities of a different...
This note explains the income tax treatment of convertible securities. The definition of convertible securities is set out in Convertible securities—definition. The basic...
Corporation tax deduction for costs incurred in setting up and operating employee share schemes Costs incurred in setting up and operating an employees’ share scheme may...
An employing company is entitled to corporation tax relief, under a specific set of rules in the Corporation Tax Act 2009 (CTA 2009), in relation to: • the acquisition of...
What is disguised remuneration? HMRC has, for many years, sought to ensure that the rewards gained from employment are properly subject to income tax and National...
In 2011, anti-avoidance legislation in the form of Part 7A of the Income Tax (Earnings and Pensions) Act 2003 (ITEPA 2003) was introduced to tackle arrangements aimed at...
Introduction HMRC has, for many years, sought to ensure that the rewards gained from employment are properly subject to income tax and National Insurance contributions...
The huge volume of legislation that comprises Part 7A of the Income Tax (Earnings and Pensions) Act 2003 (ITEPA 2003) (the disguised remuneration rules) was introduced by...
Sections 554A–554AA of Income Tax (Earnings and Pensions) Act 2003 (ITEPA 2003) are referred to by HMRC as the ‘gateway’ to the disguised remuneration legislation (this...
One of the criticisms of the disguised remuneration legislation, introduced as Part 7A of the Income Tax (Earnings and Pensions) Act 2003 by Finance Act 2011, was that it...
This Practice Note focuses on the meaning of a 'relevant step'. One of the requirements set out in the 'gateway' to the disguised remuneration rules (in section 554A of...
Under the disguised remuneration rules, the value of the 'relevant step' counts as employment income. For the meaning of a relevant step, see Practice Note: Disguised...
An earn-out is a particular way of structuring the consideration payable for the acquisition of shares in a company (the Target) where at least part of the price is to be...
Employee benefit trusts (EBTs) are commonly used to support employees' share schemes and to provide other benefits to employees in the form of pensions and bonuses. Their...
Overview of potential IHT charges It is important when establishing or operating an employee benefit trust (EBT) that the potential for Inheritance Tax (IHT) charges to...
FORTHCOMING CHANGE: The EU Fifth Money Laundering Directive (5MLD) was published in the EU official journal on 19 June 2018 and came into force on 9 July 2018. The...
Employee benefit trusts (EBTs) are commonly used to support employees' share schemes and to provide other benefits to employees in the form of pensions and bonuses. Their...
Archived: The ability to offer tax-favoured employee shareholder shares or ESS (commonly used in private equity company arrangements) has been removed. The government...
This Practice Note has been written by Anne Redston, Barrister. It is her personal view; she is not authorised to speak for the Tribunals Service or the judiciary....
