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Top UK employers urge Jeremy Hunt to reform all-employee share plans to support younger and lower paid employees and to increase productivity
Major UK employers, including Diageo, easyJet, Legal & General, and Vodafone, have today written to Jeremy Hunt, the Chancellor of the Exchequer, to urge him to open up Share Incentive Plans (SIPs) to young and lower paid employees by reducing the tax-efficient holding period from five to two years.
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Talking Money
The ProShare conference couldn’t have been more timely, taking place just one week after Kwasi Kwarteng announced the mini-budget that sent the UK economy into disarray. Amidst the turbulence, the announcement included welcome changes to share plans, such as the doubling of the CSOP limit to £60,000
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Chancellor’s review of the Company Share Option Plan is welcome, but a piecemeal approach misses a better opportunity to reform employee share plans, says ProShare
Responding to the Chancellor’s Spring Statement, ProShare – the voice of UK employee share ownership (ESO) – is calling for a comprehensive review of all tax-advantaged employee share plans rather than the piecemeal approach proposed.