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2014 Autumn Statement: share schemes and incentives implications
Practical Law UK Legal Update 8-590-9068 (Approx. 3 pages)
2014 Autumn Statement: share schemes and incentives implications
| Published on 03 Dec 2014 • United Kingdom |
On 3 December 2014, the Chancellor, George Osborne, delivered his Autumn Statement. This legal update summarises the key share schemes and incentives announcements. (Free access.)
On 3 December 2014, the Chancellor delivered his Autumn Statement. There were very few announcements directly relevant to share schemes. The key points are:
- The government will not proceed with the introduction of the concept of "marketable securities" to the employment-related securities legislation. HMRC issued a consultation on the proposal, originally recommended by the Office of Tax Simplification, in July (see Legal update, HMRC publishes consultation on marketable securities).
- The government will not proceed with the introduction of an employee shareholding vehicle (safe harbour trust). HMRC also consulted on this proposal in July 2014 (see Legal update, Consultation on employee shareholding vehicle (safe harbour trust) published).
For information about the key business tax announcements, see Legal update, 2014 Autumn Statement: business tax implications, and for information about the key private client implications, see Legal update, 2014 Autumn Statement: private client implications.
Source: HM Treasury: 2014 Autumn Statement (paragraphs 2.134 and 2.135).