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Budget/FB: Share Schemes

David Cohen of Norton Rose considers that Budget 2009 may have profound effects on employee share schemes
There was rather less than anticipated about employee share schemes in the Budget. However the proposed new 50% income tax rate is likely to have a profound effect — both short-term and long-term — on the way in which executive share schemes develop in the UK.
SAYE simplification
The only specific share scheme measures in the Budget (set out in Budget Note 30) relate to the Save As You Earn (SAYE) savings contracts (legislated for by ITTOIA 2005 Part 6 Chapter 4) which every employee participating in an approved savings-related share option scheme must take out....
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