The Chancellor has announced a tax break for employee shareholders, due to come into effect on 1 September 2013.As previously reported on this blog, the new employee shareholder status will entitle
The Chancellor has announced a tax break for employee shareholders, due to come into effect on 1 September 2013.
As previously reported on this blog, the new employee shareholder status will entitle employee shareholders to shares in their employer’s company worth between £2,000 and £50,000 (exempt from capital gains tax) in exchange for giving up various rights, including unfair dismissal, statutory redundancy pay, the statutory right to request training and certain statutory rights to request flexible working.
The Chancellor has announced today that the first £2,000 worth of shares that anyone receives under the new employee shareholder status will be free from income tax and NICs. For further information about this tax break, and other Budget news, please see our Tax Deductions Blog.
As previously reported on this blog, the new employee shareholder status will entitle employee shareholders to shares in their employer’s company worth between £2,000 and £50,000 (exempt from capital gains tax) in exchange for giving up various rights, including unfair dismissal, statutory redundancy pay, the statutory right to request training and certain statutory rights to request flexible working.
The Chancellor has announced today that the first £2,000 worth of shares that anyone receives under the new employee shareholder status will be free from income tax and NICs. For further information about this tax break, and other Budget news, please see our Tax Deductions Blog.