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June 2010 Budget: Review of tax treatment of growth shares, JSOPs, carried interest and similar arrangements
Practical Law UK Legal Update 6-502-5894 (Approx. 2 pages)
June 2010 Budget: Review of tax treatment of growth shares, JSOPs, carried interest and similar arrangements
by PLC Share Schemes & Incentives
| Published on 22 Jun 2010 • England, Wales |
A legal update about the confirmation in the June 2010 Budget of a consultation on the tax treatment of "geared growth" arrangements which secure CGT, rather than income tax, liabilities for employees' gains from interests in shares and other securities.
The June 2010 Budget confirms that a consultation will be undertaken during 2010 on the tax treatment of employment-related shares and securities offered under "geared growth" and similar arrangements.
A review of these arrangements was initially announced in the March 2010 Budget (see March 2010 Budget: review of tax treatment of growth shares, JSOPs, carried interest and similar arrangements), but the new announcement states clearly that "the aim of the consultation is to . . . ensure that employment income from employment related securities is subject to income tax and National Insurance Contributions".