search

'Rights for shares' plans are reinstated

'Rights for shares' plans are reinstated
24/04/2013

17 Apr 2013

The Government’s plan to introduce a new employee ownership scheme has been reinstated, following its previous rejection by the House of Lords.

Under the scheme, employees will exchange some of their existing employment rights for the right to own shares in the business.

The scheme offers owner-employees between £2,000 and £50,000 of shares, which will be exempt from capital gains tax.

However, in return, employees must give up some of their key employment rights.

The plans proved controversial among politicians and business groups, and were defeated in a House of Lords vote last month.

However, the House of Commons has now decided to reinstate the measure.

Commenting on the news, TUC general secretary Frances O’Grady said, ‘Employment rights should not be for sale.

Employers do not want to buy them, and employees will not want to sell them. We will continue to lobby peers to defeat this proposal again in the next round of parliamentary ping-pong’.

Our Services

Accounting Services

Auditing

Business Support

Company Secretarial

Company Formation

Payroll

Taxation Services

Specialist Services

Research & Development

Litigation support

Investment business

For more information on  'Rights for shares' plans are reinstated  talk to  Hackett Griffey LLP

Enquiry Form



More News

Workers 'losing track' of pension funds

Workers 'losing track' of pension funds

15 Apr 2013 Nearly a quarter of UK adults have lost track of at least one of their pensions, adding to the pressures facing the pension system, acc...

Read More
Making Tax Digital: are you up to date?

Making Tax Digital: are you up to date?

Following the dropping of Making Tax Digital (MTD) plans from the first Finance Bill of 2017, the government recently outlined new proposals for its l...

Read More
The Scottish rate of income tax: an overview

The Scottish rate of income tax: an overview

Under the Scotland Act 2012 the Scottish Parliament is set to acquire new powers over income tax rates from April 2016. The landmark changes will see ...

Read More

Read More

Read More

List your business

Would you like to register your company on one of the UK's largest and most effective Trade websites?

Are you looking for a reliable and consistent source of enquiries from your industry sector? Would you like to see why Find the Needle clients come back year after year to use our service? If so then feel free to register using the link 'here'.

Register
Office Address: