If your company has made a loss and you want to claim Corporation Tax loss relief, the company must be carrying on a trade “with a view to the making of a profit in the trade or so as to afford any reasonable expectation of...
Some months ago we wrote a number of blogs outlining the basic structure of a Trust, and how Employee Benefit Trusts (EBTs) are typically funded. To recap, an EBT is typically made up of three key players: The Settlor: this is the party who decides they...
This month, John Lewis Partnership celebrated spring by announcing celebrations for its 150th anniversary. Happy birthday to the biggest UK co-owned business! For many people, John Lewis is the poster boy of employee ownership in the UK, with the business owned in trust on behalf of...
With the Budget having just been announced, we felt it was a good time to go back to basics, and explore the fundamental benefits, potential pitfalls, and overall reasoning behind establishing an employee share scheme.What is a Share Scheme?A share scheme is a way to...
Why companies use EBTs You have heard about EBTs. Some have been used for failed tax avoidance schemes but this articles explains how you can use one to help. Privately owned companies that operate employee share schemes often find it useful to put in place an...
HM Revenue & Customs (HMRC) is changing the way that share schemes are administered and reported to them. The changes will affect existing and new share schemes. If you are a company with an existing share scheme, or are considering implementing one, you should be...
The Enterprise Management Incentive (EMI) legislation is complex and once you have set it up, there is no guarantee that you won't inadvertently do something to negatively impact its approved status. Unfortunately there are a number of ways that the scheme benefits can be lost. Sometimes...
