News

31 January 2012

Compensation & Benefits: Incomplete disclosure of facts may result in both formal and informal tax rulings being withdrawn

In a recent VAT case, the High Court has ruled that taxpayer's application for judicial review of HMRC's decision to withdraw its VAT ruling with retrospective effect, because the taxpayer…

31 January 2012

Compensation & Benefits: Enterprise Management Incentives (“EMI”) schemes

HMRC has recently announced two significant developments concerning EMI schemes.  In particular, a greater number of companies will now be able to take advantage of tax-favourable EMI schemes. State aid…

31 January 2012

Compensation & Benefits: HMRC issues new guidance on Share Incentive Plans

On 29 January 2010, HMRC issued new guidance in its Employee Share Schemes User Manual on the operation of SIPs. Resources Employee Share Schemes User Manual For further information, please…

31 January 2012

Compensation & Benefits: EU Commission now narrows Prospectus Directive exemption for employee share schemes

Soon after announcing a proposal for a blanket exemption the EU has revised its proposals. Background As set out in our last newsletter, on 24 September 2009, the EU Commission…

31 January 2012

Compensation & Benefits: Amendment to AIM rules to now require disclosure of directors’ remuneration

On 15 December 2009, the London Stock Exchange published AIM Notice 35, detailing proposed amendments to the AIM Rules. On 17 February 2010, AIM Notice 36 was published with a…

31 January 2012

Employment: New legal right to request time off to train

The Apprenticeships, Skills, Children and Learning Act 2009 (the “Act”), the main provisions of which come into force for businesses with 250 or more employees in April 2010, will give…

31 January 2012

Compensation & Benefits: Childcare vouchers to loose tax and National Insurance Contribution exemptions

Employers should take advantage of the scheme now to secure the tax and NIC advantages to 2015 Controversial proposals from the government will mean that employees joining childcare voucher schemes…

31 January 2012

Employment: New regulations to implement the Temporary Agency Workers Directive

Following consultations in 2009, the regulations implementing the EU Temporary Agency Workers Directive, the Agency Workers Regulations 2010 (the “Regulations”), have been laid before Parliament.  The Regulations are due to…

31 January 2012

Compensation & Benefits: ABI – New Executive Remuneration Guidelines and “position paper”

On 15 December 2009, a new version of the Association of British Insurers (ABI) Guidelines was published together with an accompanying position paper on how the Guidelines should be applied.…

31 January 2012

Employment: Using length of service criterion in redundancy selection

Since the introduction of legislation outlawing age discrimination in 2006 employers have generally been advised that “last in first out” or other service-related criteria for redundancy selection are best avoided. …