Brown could abolish the limit on the on the number of staff eligible for tax privileged share options. Companies wishing to give their staff share options can currently grant 15 people options worth up to £100,000 that are not liable for national insurance contributions or income tax. Instead, capital gains tax is deducted, but could be as low as 10%.
The current incentives were introduced to help small companies recruit and retain the high-calibre employees. Business start-ups and dot.coms are often short of cash and need to use other means to attract skilled staff.
Other measures in next week’s report could include a tax credit to encourage business into poorer areas, an above inflation increase in pensions and the abolition of stamp duty on share dealing.
Richard Le Tocq, head of Locate Guernsey, discusses the chancellor’s approach to high net worth individuals, and why relocation is increasingly attractive to HNWIs
The firm says that the U-turn 'does not alter the need for a fundamental review of the way we tax work' and that the current tax system is in need of reform
Legislation on the NICs changes to be brought forward in the autumn following publication of 'the full effects of the changes to Class 2 and Class 4' in the summer
Following chancellor Philip Hammond’s Spring Budget speech, we explore the key takeaways for businesses and individuals