Minutes of a Technical Meeting with HMRC on 20 January 2010

NB Not agreed with HMRC. Minutes of 2009 (held January 2010) Technical Meeting. General questions re:

  • conditional share rights/restricted share units – rights with dividend equivalents: timing of income tax/NIC liabilities
  • Tax position where granted to employee resident outside UK
  • Option exchanges
  • Phantom share options
  • PAYE penalties in relation to employee share incentives
  • Bank Payroll Tax (see alsoseparate note)
    • Valuing share awards
    • Guaranteed bonuses
    • Bonus pools
    • Exercise of share options – Discretion and adjustments
    • Rollover of options
    • Arrangements for future payments
    • Application of BPT where there is full compliance with the FSA Code on Remuneration
    • Retention arrangements
    • Temporary residence
    • Timetable of draft legislation/further guidance on scope.
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Keywords: Cash alternative, Cash bonus, Clawback, Convertible securities, CSOP, Discretion, Dividend income, Forfeiture, FSA Remuneration Code, Good Leaver, Income tax, ITEPA 2003, Leavers, NICs, PAYE, Performance condition, Remuneration Committee, Restricted securities, Rollover, RSUs, Share valuation, USA
Categories: Document archive, HMRC meetings