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The issue Enterprise Management Incentive (EMI) option schemes are well known as a tax-efficient incentivisation tool for management. If implemented correctly, an employee can end up being taxed on option scheme profits at capital gains tax rates, rather than income tax rates. Furthermore, following the 2013 Finance Act, in most cases any option gains can…

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The issue  As we continue to delve into the detail of the furlough scheme we are noticing more and more seemingly strange rules. One such rule is that a furloughed employee is still allowed to work for another employer and this has been unambiguously confirmed in the guidance.  Example John earns £37,500 a year working…

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We have received many queries from clients in relation to the Covid-19 financial help which is available. We thought that it would be useful to incorporate these queries (and their answers) into two case studies which we set out below: Question 1 Arthur and Jane, a married couple, own and operate XYZ Ltd, which is…

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The issue The question of whether (shareholder) directors of their own companies can ‘furlough’ themselves is still subject to some ambiguity. In simple terms many director shareholders want to know where they stand in relation to the Coronavirus Job Retention Scheme (CJRS). Currently, two schemes have been launched by the government to help businesses and…

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What exactly will Sajid Javid do with Entrepreneurs’ Relief? The issue While many entrepreneurs are still in celebration mode after the resounding defeat of Jeremy Corbyn, there may still be a nasty surprise waiting for them in the not too distant future. There are strong rumours that the Government is set to scale back Entrepreneurs’…

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