Employee shareholder status
The new employment status, the employee shareholder, took effect on 1 September 2013.
Employee shareholders have reduced employment rights, including no rights to statutory redundancy pay and unfair dismissal unless their employer chooses. The quid pro quo is that employee shareholders are awarded shares worth at least £2,000 in their employer company (there is no upper limit for the shares).
There is no requirement for businesses wishing to offer an employee shareholder contact to obtain HMRC approval or agreement.
HMRC has published guidance on the new employee shareholder status on their website.
Date: 19th September, 2013
Articles from this Author
1st November, 2018
Budget 2018 - Changes for businesses
22nd October, 2018
Making the most out of your home? Rent a room relief
3rd May, 2018
Tax changes for non-resident corporate landlords
4th April, 2018
EMI options - a current risk
Contact Business Service Partners
Choose from the drop down menu below to select a Partner to contact.
Sandy Bell, Partner in Rickmansworth considers the merits of Furnished Holiday Lettings in Optima magazine… twitter.com/i/web/status/1…
For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole