Some of our readers may be aware that Her Majesty’s Revenue & Customs (”HMRC”) has recently been the subject of an external review by Kieran Poynter, senior partner of PriceWaterhouseCoopers, one of the UK’s leading accountancy firms. This was as a result of the fiasco surrounding HMRC’s loss of several data discs in October 2007 [...]
[click here read more]Posted: July 28th, 2008 under Corporate Finance.
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The Chancellor’s Budget 2008 makes changes to the UK’s regime for granting enterprise management incentives (known as EMI options) during 2008. These changes are welcome in certain respects but, as ever, the Chancellor’s sword is double-edged!
On the positive side, prior to 6 April 2008, the market value of the [...]
Posted: May 15th, 2008 under Corporate Finance.
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The government has finally published draft legislation demonstrating how the changes to the UK’s capital gains tax (”CGT”) regime will be implemented. In this note, we focus on employees who hold (or have exercised) share options over shares in their employer.
Previously, “taper relief” applied to certain business assets, which included the majority of shares acquired [...]
Posted: March 5th, 2008 under Corporate Finance.
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The Government has recently announced prospective changes to the capital gains tax (”CGT”) regime which are intended to take effect from 6 April 2008.
The headline CGT rate is to be fixed at 18% on any chargeable gain made on the disposal of assets from 6 April 2008. This is to be welcomed in the [...]
Posted: January 29th, 2008 under Corporate Finance.
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Since 2003 the way the UK’s income tax regime applies to individuals who acquire shares in a company by reason of employment has been altered and updated. Whilst most advisers have been up to speed with this for some time now (even though the 2003 legislation has been amended several times since its introduction), client [...]
[click here read more]Posted: January 10th, 2008 under Corporate Finance.
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