Sharing in the success
Posted on Apr 13, 2018
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There are lots of reasons
- Tax and NI savings compared to paying salary
- To attract and
retain staff by matching the benefits provided by competitors - To provide essential cover that employees might not
be able to arrange for themselves - To encourage employees to save for their retirement
Share incentive schemes is one particular employee benefit which
There are four types of scheme: Save-As-You-Earn (SAYE); Share Incentive Plans (SIPs); Company Share Option Plans (CSOPs); and Enterprise Management Incentives (EMIs).
SAYE schemes allow employees to invest up to £500 per month over
If the option to buy the shares
SIP schemes (not to
Employers can donate up to £3,600 worth of their shares to each employee’s scheme each year. Alternatively, if the employee buys up to £1,800 worth of shares each year out of their pre-tax salary, the employer must contribute twice this value.
Whereas
Finally, EMI schemes enable companies with less than £30 million in assets to grant up to £250,000 worth of share options to employees over a three-year period. Any gain will be exempt from income tax and
EMI schemes are the most recent to
If you’d like to know more about how The Goodman Partnership can support the ongoing management of your employee benefits, call Graham Rose on tel: 01892 500 600 or click here: www