Finance Bill 2020 includes an amendment to enterprise management incentive (EMI) rules on working time commitments for employees, to ensure that employees are not adversely affected by not being able to work during the period beginning with 19 March 2020,...
HMRC’s October employment related securities bulletin contains a couple of interesting points concerning EMI (enterprise management incentives) schemes. These are summarised below. For a further discussion of the tax and administrative issues of EMI and other employee share schemes, please get...
We highlighted in earlier blogs this year that there was a delay in HM Treasury securing the necessary EU State Aid approval to renew the UK's flexible, tax-advantaged share plan, Enterprise Management Incentives (EMI), beyond 6 April 2018 (the previous EU approval expired...
The European Commission has issued a press release confirming that EU State Aid approval has been given to the extension of the period of approval for the UK’s enterprise management incentive (EMI) scheme. The press release comments: “Without prejudice to...
Further to our previous EMI blog, in March, (here: https://blogs.mazars.com/letstalktax/2018/03/emis-eu-state-aid-renewal-deadline-is-looming-fast-emi-plan-house-keeping-matters-to-check/ ) warning that HM Treasury had failed to secure timely renewal of the EU State Aid approval necessary to allow Enterprise Management Incentive (EMI) tax advantaged option grants to be made after...
Enterprise Management Incentives (EMI) is the UK's most popular share plan, offering great flexibility and tax advantages for eligible entrepreneurial businesses. The tax relief advantages for EMI include the potential to exercise options tax-free (provided the exercise price is at...
Problems described as “teething troubles” when the online filing régime for share plan registration and annual returns was introduced in 2014 remain a concern in some cases in 2018. Authorisation codes may go astray in the post, so companies...
30 June is National Employee Ownership Day in the UK this year. The purpose of EO Day is to highlight the benefits of employee ownership to business, whether this is direct ownership, using share plans, or indirect ownership using an...
Certainly not coincidentally with the approaching deadline for making employment-related securities (ERS) returns, HMRC have published two new factsheets setting out the amounts of penalties relating to ERS arrangements and returns and their approach to charging those penalties. Material inaccuracy...
Certainly not coincidentally with the approaching deadline for making employment-related securities (ERS) returns, HMRC have published two new factsheets setting out the amounts of penalties relating to ERS arrangements and returns and their approach to charging those penalties. Material inaccuracy...
April 2016 sees the arrival of the first annual London Games Festival (launch video here) – a 10 day extravaganza of events and talks. The festival is part of the Games London initiative which represents a £1.2 million investment from the London...
After the major changes that were introduced for the 2014/15 tax year, employee share plans and the employer compliance process continue to be in a transition phase for 2015/16. The changes introduced from April 2014 in relation to share plan...
There have been seismic changes in relation to employee share plans. One of the key changes is share plan registration and annual returns filing. From April 2014, all share plans (UK tax-advantaged or UK non tax-advantaged including overseas plans with...
In the Budget the Chancellor announced that the Government will make amendments to the SEIS, EIS and VCT legislation to ensure that the UK continues to offer significant and well-targeted support for investment into small growing companies, in line with...
Although the legislation governing Enterprise Management Incentives (EMI) options is fairly flexible, and not particularly restrictive, there are some areas where advisers and companies can get themselves into difficulties. This could mean that the EMI options will not qualify, or...
June is a busy month in the world of employment tax and employment-related securities (ERS) as the following deadlines approach. 5 July This is the effective deadline for making a PAYE settlement agreement (PSA) whereby the employer contracts with HMRC...
HMRC has updated its guidance in relation to employment-related securities and published the latest Share Schemes Bulletin (ERSS Bulletin 15) which includes: an outline of shares & securities changes in Finance Bill 2014; guidance on the commencement and transitional provisions...
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