Explaining the entry on the Urgent Task Force’s abstract in the Encyclopaedia of Current Accounting Law and Practice Bob Willott, former technical director at the ICAEW insists the abstract is faulty.
The entry deals with employers’ National Insurance contributions on employees’ share options. It states that for the requirement to be achieved, the amount to be recognised should be calculated by applying the latest NI rate to the difference between the market value of the underlying shares at the balance sheet date and the option exercise price.
But Willott said the terms of the abstract means that even when the market value of shares has fallen below the ‘exercise price’, a provision will have to be made in the accounts.
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