The new share ownership arrangements enable employers to give employees up to £3,000 of shares each year free of tax and National Insurance. In addition, employees will be able to buy partnership shares out of their pre-tax salary up to £1,500 a year free of tax and National Insurance and employers can give employees two share for every one partnership share they buy. When the employees subsequently dispose of the shares they will be looking for a tax effecient home for the proceeds and could, of course, consider investment of part of the proceeds into an ISA or even a Stakeholder pension.
Winston Churchill once rejected a pudding on the grounds that it had no theme. I know it's a cliché but I have been listening to the Chancellor and the leader of the Opposition and it is infectious.I am not quite clear whether this Budget has an overall theme. Lots of bits and pieces, many of […]
FSA chairman Howard Davies says Europe should be aware of “hasty and bungled” reform of financial regulation.Speaking in Brussells he said Europe's top priority should be overhauling the legislative framework for the financial services industry.He said that until there is a common European legal system implementation and enforcement should take place at member state level.Davies […]
In the pre-Budget report on 9 November 1999 the Chancellor announced a package of tax incentives aimed at modernising and simplifying the tax system to boost giving to charity. The Getting Britain Giving package included: abolishing the £250 minimum limit for Gift Aid donations; allowing donors to join the Gift Aid scheme by telephone or […]
Life assurance contributions under the new DC tax regime are to be restricted to 10% of the pension contributions paid under that tax regime. Clients with personal pension contracts set up prior to 6 April 2001 will, however, retain the existing 5% of net relevant earnings limit. For most individuals the change to the life […]
By Simon Fletcher
As a chief executive officer of a business in the financial services sector, I have been dealing with the introduction of auto-enrolment for our clients for some time, but I can also speak from an employer’s point of view, having to go through the process ourselves.
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