Changes to tax-approved share schemes: notification, self-certification and online filing

The draft Finance Bill 2014 proposes a number of changes to the approval process for employee share schemes.

The changes include the introduction of an electronic notification process and online annual return filing system and the replacement of the HM Revenue & Customs approval process by a self-certification regime. The consultation period for the bill ends on 4 February 2014, with enactment expected by summer 2014.

Allen & Overy summarises below the impact of these changes if these are enacted as currently proposed and the steps that companies will need to take…

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