UK Employee Incentives Update | September 2024
Published on 6th Sep 2024
A look ahead to the Autumn Budget, consultations on employee incentives and new HMRC guidance
In this edition, we look ahead to the UK Autumn Budget on 30 October 2024. We consider possible tax changes that may be announced and expected responses to consultations relevant to employee incentives.
We also cover recent guidance and updates provided by HMRC and include a spotlight on qualifying stock options in Belgium.
Autumn Budget 2024 | Employee incentives: possible CGT and employer national insurance changes ahead?
The UK Autumn Budget is on 30 October 2024, with the government indicating that "difficult decisions" will be necessary to secure the public finances.
Tax rises are increasingly likely to be made, although the prime minister has reiterated that these will not be on taxes for working people. Changes to capital gains tax are expected and, more recently, there has been speculation that changes may be made to employer's national insurance contributions.
Employee incentives consultations | Current status
A response to a number of consultations is awaited, including proposed improvements to tax-advantaged all-employee share schemes. Updates may be provided at or around the Autumn Budget 2024.
Employment-related securities | HMRC guidance on reporting and paying tax on capital gains and dividends
HMRC has published guidance on reporting and paying tax on dividends and capital gains arising from shares acquired through employee share plans.
SAYE Plans | Change in bonus rates
HMRC has recently announced the bonus rates applicable to tax-advantaged save as you earn (SAYE) option plans from 16 August 2024.
OC Ventures Update | Employee incentives
Our OC Ventures Update | July 2024 features "Employee incentives – an insider's viewpoint", in which Associate Director Rhiannon Jones discusses common issues and top tips on employee incentives for venture capital-backed clients.
Economic Crime and Corporate Transparency Act 2023 | Actions for trustee companies
Our pensions and corporate experts have published an Insight on the Economic Crime and Corporate Transparency Act 2023, containing a summary of the key impacts and suggested actions for trustee companies. Aimed at independent professional pension trustee companies, the considerations set out in the Insight apply equally to UK corporate trustees of employee benefit trusts.
Belgium | 'Qualifying' stock options
Our Belgian team summarises the advantageous tax regime available in Belgium for "qualifying" stock options, subscription rights or warrants granted to workers in the framework of their professional activities.
Insights | Recent publications
Latest Employment Law Coffee break
UK tax disputes set for further 'failure to prevent' corporate criminal offences
Financial Conduct Authority confirms overhaul of UK Listing Rules - Osborne Clarke | Osborne Clarke
Dutch tax enforcement policy due to change for employees and contractors
Spain's Supreme Court rules on tax deductibility of director compensation
Please get in touch with your usual Osborne Clarke contact or one of the experts below if you have any queries or would like to discuss further.
