Form 42: UK reporting requirements for US corporate share schemes

Any company offering UK-based employees any form of rights in the company’s stock should be aware that these employees may have reporting obligations to the UK tax authorities. A UK resident employee receiving employment-related securities will likely face UK taxation consequences.

‘Employment-related securities’ is a wide term and covers almost every right in or over equity individuals have in their employer’s group. Its ambit goes beyond simple equity and covers most rights under a standard share scheme, including restricted stock units and restricted stock awards, as well as more straightforward stock grants and stock options. It also covers rights under UK-specific share scheme types, such as enterprise management incentives or company share ownership plans…

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