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
20th July, 2017
Uncertain times for winding up transactions
3rd July, 2017
9th June, 2017
27th April, 2017
Government places Making Tax Digital legislation on hold
Contact Business Service Partners
Choose from the drop down menu below to select a Partner to contact.
Our latest edition of UK Inward Investment - what are the opportunities for you, is out now bit.ly/2xB0cun click to read more
For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole