Attention Fast Draft users! Any changes made to the contacts in your Address Books on Sunday 11 December will not be saved. The contents of your Address Books will be available as usual when the new Fast Draft is live on Monday 12 December.
WARNING: On 23 November 2016, the Chancellor of the Exchequer announced that it is not possible to acquire employee shareholder status after 2 December 2016.A practice note about the income tax and capital gains tax treatment of shares acquired under an employee shareholder agreement to implement employee shareholder status under section 205A of the Employment Rights Act 1996.
A note on employee shareholders, a type of employment status that came into force on 1 September 2013. The tax reliefs associated with employee shareholder status ceased to be available on 1 December 2016, and the government has announced that it will be changing the law so that it is not possible to become an employee shareholder. However, existing arrangements will remain in place.We are reviewing this practice note in the light of the Finance Bill 2016 receiving Royal Assent on 15 September 2016.
This practice note is a guide to the use of salary and bonus sacrifice arrangements.NOTE: This resource is being reviewed in light of the 2016 Autumn Statement. For more information, see Legal update, 2016 Autumn Statement: key business tax announcements.