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Oct 9, 2024 | 
lexology.com | Tracey Wright |Andrew Goodman |Michael Carter |Veronica McMahon |Mairi Granville-George |Jennifer Alldridge
Tax rises on 'working people' have been ruled out, but increases and changes can be expected in other areasA month on from Sir Keir Starmer's Downing Street rose garden speech warning that the first budget of the new Labour government on 30 October would "be painful", the chancellor, Rachel Reeves, at the Labour party conference signalled it would be a budget with ambition and for growth.
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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.
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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.
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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).
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Apr 4, 2024 | 
mondaq.com | Veronica McMahon |Lizzie James |Mairi Granville-George
Labour, following the chancellor's adoption of two of its proposed tax policies, may now look to introduce other reforms The UK Labour Party set out a range of tax policy pledges with the launch of its Business Partnership for Growth plan in February, highlighting those it wishes to maintain and stabilise while leaving "on the table" previous pledges to levy VAT and business rates on private schools, introduce a "proper" windfall tax on the profits of energy giants and abolish the carried...
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Mar 20, 2024 | 
lexology.com | Veronica McMahon |Lizzie James |Mairi Granville-George
Labour, following the chancellor's adoption of two of its proposed tax policies, may now look to introduce other reforms The UK Labour Party set out a range of tax policy pledges with the launch of its Business Partnership for Growth plan in February, highlighting those it wishes to maintain and stabilise while leaving "on the table" previous pledges to levy VAT and business rates on private schools, introduce a "proper" windfall tax on the profits of energy giants and abolish the carried...
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Jan 12, 2024 | 
lexology.com | Catherine Hammon |Catherine Shepherd |Charlie Hennig |Clareine Enderby |Colette Brimble |David Soerensen | +19 more
Our Knowledge Lawyers have picked out particular legal developments affecting business, as certain already legislated-for regulatory changes and rules come into effect, new legislation passes, and long-awaited litigation on complex points continues to progress through the courts. Digital regulationOnline safety2023 saw the UK's Online Safety Act (OSA) finally receive Royal Assent and 2024 will see much work by Ofcom, the designated online safety regulator, to bring it into effect.
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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.
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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).
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Jul 19, 2023 | 
lexology.com | Nick Thody |Catherine Shepherd |Kath Sadler-Smith |Jennie Graham |Colette Brimble |Robyn Trigg | +17 more
In January 2023 our Osborne Clarke Knowledge Lawyers made their business law predictions for 2023. Here, we see how those predictions are faring. GeneralWe thought that "businesses and their advisers are likely to sharpen their focus on the Opposition's emerging plans for the economy" – perhaps not the craziest of predictions, and we can put a tick next to that one.
