The Government has released exposure draft legislation in relation to measures designed to soften the tax treatment of employee shares schemes ("ESS"). The proposed changes were announced by the Government in October 2014 and...more
AS FORESHADOWED IN OUR RECENT ARTICLES (4 AUGUST AND 8 OCTOBER), THE FEDERAL GOVERNMENT HAS NOW COMMITTED TO: (A) REVERSING (AT LEAST IN PART) THE CONTROVERSIAL EMPLOYEE SHARE SCHEMES TAX CHANGES IMPLEMENTED IN 2009 AND (B)...more
2013 has been a significant year for UK employment law. In particular, an abundance of new legislation (both about substantive law and Employment Tribunal procedure) has heralded a number of important changes.
On December 13, 2013, the U.S. Supreme Court granted certiorari in Dudenhoeffer v. Fifth Third Bancorp, et al., No. 12-751, to review a decision by the Sixth Circuit reversing dismissal of a complaint in an ERISA stock drop...more
The new provisions are now in force and allow UK employees to give up certain employment rights in return for shares in their employer (or its parent), but important questions remain unanswered.
On 1 September, the new...more
The much publicised “employee shareholder” status came into effect yesterday, 1 September 2013, offering employers a more flexible way to structure their workforce. The new legislation applies to companies of all sizes, but...more
As noted in Pillsbury’s May 12, 2011 Advisory, Going Global with US Employee Stock Plans, sponsors of global stock plans must navigate a host of legal and tax regimes to maintain compliance with applicable rules and laws....more
Over the past 10 months, Grant Thornton and DLA Piper have launched a successful life sciences boardroom lunch series. Events have been held in Melbourne and Perth, and Sydney is about to be added to the roster.
In this article we consider some alternative approaches to the proposed U.K. status of “employee shareholders,” who receive capital gains tax-exempt shares in their employer (or its parent) in return for waiving certain...more
New Growth and Infrastructure Act introduces employee shareholder provisions that are expected to come into force later this year.
On 25 April, the Growth and Infrastructure Act 2013 came into effect and, among other...more
After twice rejecting the Government’s proposals, the House of Lords has just finally voted to accept the much argued Clause 27 of the Growth and Infrastructure Bill, thereby paving the way for new legislation that will...more
On 3 December 2012, the UK Government published its response to a consultation paper on the Chancellor’s proposal for implementing a new “employee shareholder” status. Whilst acknowledging that only “a very small number of...more
In This Issue:
- 2013 – What's On the Horizon
- Changes Confirmed
- Changes Expected In 2013 But No Implementation Date
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