Category Archives: Finance Act 2013

Following yesterday’s enactment of the Finance Act 2013, a number of significant changes have been made to the operation of tax-advantaged share plans; including EMI, CSOP, Sharesave (SAYE) and Share Incentive Plans (SIPs). There are a number of actions that companies should now consider taking. 1.     Update plan rules and documentation Many changes will apply … Continue reading Changes to Approved Share Plans

In the 2012 Budget, the Government announced various measures to discourage the use of “corporate envelopes” to hold high value UK residential real estate. These measures included a 15% rate of SDLT, introduced with effect from 21 March 2012, for acquisitions of residential real estate by certain “non-natural persons” (including companies) for consideration exceeding £2 … Continue reading Removing property businesses from the 15% rate of SDLT

The Government released further details of the proposed new taxes on UK residential property owned by “non-natural persons” on Tuesday 11 December.   The news   Most of the news is good. The scope of the charges have been restricted. The CGT charge will now only apply to gains accruing after April 2013, and not … Continue reading The pressure’s off to restructure high value residential real estate before Easter

On Tuesday the Treasury published the draft text of next year’s Finance Bill.  As was expected, this contained the specific provisions implementing the change to the scope of entrepreneurs’ relief relating to EMI share options that was announced last year.  However, as was not expected, the government has made a surprising but helpful U-turn in … Continue reading A sensible turnaround on Entrepreneurs’ Relief and EMI options