Employee Incentives Update | May 2022
Published on 4th May 2022
In this edition of our Employee Incentives Update, we focus on some important dates - including the 6 July 2022 deadline for companies to file their employment-related security annual returns with HMRC. We also cover other developments in the UK (including the health and social care levy and a review of the tax-advantaged company share option plan), and a recent ruling on the inbound workers regime in Italy.
New partner in the team – Anika Chandra
We are delighted that Anika will be joining the Incentives team as a second partner from 16 May 2022. Anika has previously worked at Shoosmiths, Stephenson Harwood, Allen & Overy and CMS.
Employment related securities | File annual returns by 6 July 2022
The deadline for companies to submit their HMRC annual returns in respect of employment related security arrangements for the tax year ending 5 April 2022 is 6 July 2022. Action should be taken soon if you have not yet started to gather together the necessary information.
Tax-advantaged share plans | End of Covid easements
HMRC has recently confirmed the end of the temporary easements that were introduced for tax-advantaged plans during the coronavirus pandemic.
Spring Statement | Review of CSOP announced, NICs changes and health and social care levy
The government announced in the Spring Statement 2022 that it is to review whether the Company Share Option Plan should be reformed and expanded, and announced increases in the NICs threshold from July 2022.
Trust registration service | 1 September 2022 deadline
Trustees are reminded that HMRC's expanded Trust Registration Service is open, with a deadline of 1 September 2022. Trustees of UK express trusts (including employee benefit trusts and employee ownership trusts) that were in existence on or after 6 October 2020 need to register online by 1 September 2022 unless an exemption applies.
Italy | Inbound workers regime
The Italian tax authorities have issued rulings which clarify the extension of the tax incentives regime to inbound workers (available for those who come to work in Italy after 24 months abroad).
Insights | Recent Publications
Hybrid working: ‘The Risk Factor’
