Anika Chandra

Apr 29, 2024 | mondaq.com | Michael Carter |Anika Chandra |Mairi Granville-George |Rhiannon Jones

HMRC announced in the February 2024 issue of the Employer Bulletin that itis aligning its approach to providing advance assurance on certain termination payment enquiries. Previously, HMRC's guidance committed it to giving a binding answer if an employer or agent made enquiries on certain termination cases, including those involving the disability and injury compensation exception, the foreign service exception, how the £30,000 threshold exemption applies to payments and non-cash provisions.

Apr 25, 2024 | mondaq.com | Michael Carter |Anika Chandra |Mairi Granville-George |Rhiannon Jones

Companies operating employment-related securities arrangements are reminded that they must submit their annual returns for the tax year ending 5 April 2024 by 6 July 2024. Employment-related securities (ERS) arrangements include: Tax-advantaged plans. Enterprise Management Incentive (EMI) options, Company Share Option Plan, Share Incentive Plan and Save As You Earn (SAYE) Plan. Non-tax advantaged ERS arrangements.

Apr 25, 2024 | mondaq.com | Michael Carter |Anika Chandra |Mairi Granville-George |Rhiannon Jones

The government announced a number of changes to simplify the process for granting tax-advantaged enterprise management incentive (EMI) options at the Spring Budget 2023. The final change to be implemented applies to EMI options granted on or after 6 April 2024 and extends the time limit for companies to notify HMRC of these grants (this will now be by 6 July following the end of the tax year in which the grant was made).

Sep 26, 2023 | mondaq.com | Michael Carter |Anika Chandra |Mairi Granville-George |Rhiannon Jones

Draft legislation published on future change to the EMI notification process Following on from the two administrative changes to simplify the process for granting enterprise management incentive (EMI) options introduced earlier this year, companies operating EMI plans are reminded that a third change is due to take effect from 6 April 2024.

Sep 26, 2023 | mondaq.com | Michael Carter |Anika Chandra |Mairi Granville-George |Rhiannon Jones

Proposals for targeted reform to ensure that EOTs and EBTs remain focused on rewarding employees and encouraging employee ownership On 18 July 2023, the government published its consultation on proposals for targeted reform of the employee ownership trust (EOT) tax regime. First announced in Spring 2023, the consultation has been expanded to include some specific proposals to reform the inheritance tax treatment of employee benefit trusts (EBTs).