The session was hosted by Phil Ainsley, Managing Director, Employee Services, Equiniti. Discussions were led by Dan Sullivan, Executive Director, Ernst & Young. In the delivery of worldwide tax compliance support to organisations, Dan is the global operations lead for Ernst & Young. Dan specialises in international equity withholding and reporting compliance.
Changes to UK income tax and NIC treatment of share incentives became effective from 6 April 2015. This applies to all taxable events occurring on or after 6 April 2015 (there are no transitional or grandfather rules). There is now likely to be an increase in reportable events for employers with cross-border employees.
Dan led discussions and talked about the impact on awards and options (including international Sharesave plans). He set out the various tax and NIC permutations and underlined the actions that employers should be taking now. Ensuring relevant employees are aware of the changes is important and there were some interesting survey statistics on how effective companies rate their own communications strategy.
Further information about the new rules can be found in our download below.