PwC warns on options.
PricewaterhouseCoopers has thrown its weight against proposals aimed at altering the controversial tax treatment of share options. The firm’s objection follows July’s proposal by the G4+1 group of standard-setters for a charge against company profits for the fair value of shares and share options issued to employees. Several dot.com companies including online auctioneers QXL have lobbied the government over the issue. Gordon Brown was expected to announce improved tax breaks for employee share option schemes in his pre-Budget statement yesterday. In its response to the plans, PwC said many issues needed to be resolved before it is appropriate to develop an accounting standard along those lines.