Despite the fact that the overwhelming response to its initial consultation on this issue was either negative or mixed, the Government today confirmed its commitment to implementing the employee owner status (which it has now decided to call the “employer shareholder” status). Under these provisions, employees will relinquish certain statutory employment rights in return for … Continue reading Employee owner status – a step in the right direction, but still flawed
In today’s budget, the Government has stated that it will consider and consult on the recommendations of the Office of Tax Simplification (“OTS”) relating to ways to simplify the tax legislation applying to tax advantaged share schemes in the UK. By way of background, on 6 March 2012, the OTS firstly recommended the introduction of … Continue reading Tax Simplification
As the dust settles on (yet) another Budget, the first for a new Goverment and a new Chancellor, what have we learned of what the future might hold? This was always going to be a Budget in which spending would be slashed and taxes raised and, with regard to the latter, the hike in VAT is certainly a painful one. However, such … Continue reading A ray of hope?
In the initial Coalition Agreement of 11 May 2010, the final Coalition Programme released on 20 May 2010 and the Queen’s Speech given on 25 May 2010 (as well as the recent speeches given by George Osborne) a number of initiatives and changes have been proposed by the Government in relation to the tax system, … Continue reading The Coalition Programme – Summary Of Taxation Proposals