25 November 2013
A call for evidence has been published which seeks views on what the government can do to further simplify the use of employee ownership.
Background In July 2012 the Nuttall Review of Employee Ownership ‘Sharing Success’ was published. This Review concluded that the barriers to greater adoption of employee ownership fell into three categories: (i) a lack of awareness of the concept of employee ownership; (ii) a lack of resources available to support employee ownership; and (iii) the actual (or perceived) legal, tax and other regulatory complexities of employee ownership. Since the publication of the Review, significant steps have been taken to reduce these barriers. On the specific issue of reducing the complexity of employee ownership, steps taken include the production of model company documentation and simplifications into the way internal share markets operate. This Call for Evidence seeks views on what further actions Government should take and specifically, seeks views on whether and how the Nuttall Review Recommendation U should be taken forward. This recommended that employee benefit trusts should be able to last forever and should not be subject to the rule against perpetuities. The rule against perpetuities prevents property from being tied up indefinitely.
This Call for Evidence is relevant to:
UK businesses who have already adopted employee ownership (particularly using an employee benefit trust), UK businesses with an interest in adopting employee ownership; and organisations who represent or advise such businesses, and in particular those who advise on creating and maintaining employee benefit trusts.
‘ Amending the perpetuities rule and simplifying employee ownership ’ is open until 19 February 2014.
Expat News
REAL TIME INFORMATION FAQS FOR EXPATS
18 December 2012
HMRC has updated the frequently asked questions from employers and payroll professionals who have expatriate employees working either in the UK or overseas.
Follow the link below to read the latest version of questions and answers that employers have been asking during the pilot.
Employers: operating PAYE in real time for expatriate employees
UPDATE TO SHORT TERM BUSINESS VISITORS TO UK – PAYE
26 APRIL 2013
HMRC has published updated arrangements relating to short term business visitors to the UK.
CIPP Policy News Journal
16/04/2014, Page 269 of 519
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