The following Employment Tax guidance note Produced by Tolley in association with Ken Moody provides comprehensive and up to date tax information covering:
Phantom share schemes are bonus arrangements where the calculation of the reward is measured by improvements in corporate performance.
Whilst not technically a share scheme, these are used by both share scheme planners and employers. They should therefore be considered as part of an overall project to decide on the best ways of incentivising employees based on company share performance.
Phantom share schemes operate as a type of shadow share option arrangement. The main difference from the standard share scheme model is that phantom schemes do not involve the use of any actual shares.
This can prove attractive to companies that do not wish to allow employees to have direct holdings, either because they are
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‘Hold-over’ relief allows for the deferral of a gain that would otherwise arise in relation to a disposal. No capital gains tax (CGT) is due in respect of the disposal, but the base cost of the asset for the transferee for the purpose of a future disposal is reduced by an amount equal to the gain
IntroductionSubsistence is the amount incurred as a consequence of business travel. Typically it relates to accommodation and meal costs incurred. These amounts are allowed because they are associated with the necessary travel. See the Travel expenses guidance note for more information of when
IntroductionUK tax must be withheld on UK payments including:•interest•royalties•rental incomeWithholding tax may be reduced under double tax treaties (DTT) or European directives, both of which may be subject to making a formal claim.This guidance note outlines the rules for UK withholding tax, and
Expenditure of a capital nature is not allowed as a deduction when calculating trading profits. Expenditure of a revenue nature is allowable, provided there is no specific statutory rule prohibiting a deduction and the expenditure also satisfies the wholly and exclusively test. See the Wholly and
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