UK workers are missing out on £350m in tax breaks by ignoring employee share plans IFAP has revealed.
IFAP says this amount could be just the tip of the iceberg in what employees could save from tax breaks on the Profit Share Scheme.
It points out if all staff currently involved in the Scheme invested just half of the £3,000 tax-free investment allowed under the Government's Share Incentive Plans then it would be reached.
Elms says: “The Government's Share Incentive Plan offers generous benefits to employees investing in their own companies. Despite the Inland Revenue's attempts to raise awareness of these schemes a substantial amount of tax is being wasted by not taking advantage of them.”