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Share scheme revolution
Key points
- Employee share schemes achieved a saving of £530m in income tax relief and £340m in National Insurance contributions in 2019-20.
- Enterprise management incentives have become an increasingly popular option for employers.
- It has become widely understood that giving team members a slice of pie activates ‘the ownership effect’.
- Employees are more alert to the potential that shares and options can bring.
Government figures relating to share schemes for the year ending 2020 mark some head-turning trends for industry-watchers. See tinyurl.com/hmrcssstat.
Unsurprisingly the main headline of the report focused on the amount of financial relief achieved over the course of the year. Impressively these business-boosting schemes achieved a combined saving of £530m in income tax relief and £340m in National Insurance contributions.
Another major finding is that enterprise management incentives (EMI) have become the largest contributor to the total cost of share scheme tax relief....
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