27 April 2006
We operate a share option scheme set up by our parent company on a global basis, and which does not therefore meet the conditions for approval as a company share option plan. Since the shares are quoted, they are marketable and the gain made is liable to income tax and National Insurance contributions under PAYE.
When employees exercise their options shortly before leaving the company, we have to pay over PAYE, often in excess of the amount that we can deduct. When we then attempt to recover this from the employees, they have left the company and we often cannot trace them.
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Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
