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Further support for employee ownership

The Chancellor announced further support in this area including: -

  • relief from capital gains tax on sales of shares that result in a controlling interest in a company being held by a trust used as an indirect employee ownership structure;
  • an annual exemption from income tax on bonuses or equivalent payments up to an amount of £3,600 paid to employees of companies that are indirectly employee owned; and
  • an increase in the maximum annual value of shares that an employee can acquire with tax advantages under the Share Incentive Plans to £3,600 a year for ‘free’ shares and to £1,800 a year for ‘partnership’ shares. The Save As Your Earn savings contribution limit will be doubled from £250 to £500.

 

 

Date: 5th December, 2013
Author: Cathy Corns

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