Please sign in with your existing account details.
Register to access exclusive content, sign up to receive our updates and personalise your experience on brownejacobson.com.
Privacy statement - Terms and conditions
Forgotten your password?
You have exceeded the maximum number of login attempts for this email address and your account has been locked. An email has been sent to member of Browne Jacobson's web team and some one will be contacting you over the next two working days with details of how to change your password.
Are you sure you want to remove this item from you pinned content?
The draft consultation Finance Bill 2013 was published yesterday. As expected, it removes the requirement for the seller of shares acquired via an EMI option to hold at least 5% of the ordinary shares/voting rights in order to claim entrepreneurs’ relief (ER). Whilst any relaxation of the rules is always welcome, we didn’t think this would help many option holders in practice.
The Bill unexpectedly goes further though by also removing the requirement for the EMI shares to have been owned throughout the 12 months before the sale. If the usual trading/employment tests are met, EMI shares sold from 6 April 2013 (or 6 April 2012 in certain circumstances) could now be eligible for ER – reducing CGT to 10% – provide the option was granted more than 1 year pre-sale.
If the draft legislation isn’t amended, this is fantastic news for the many EMI option holders whose options are exercisable immediately before a company share sale. A hidden legislative change which is positive? Whatever next?
To operate lawfully, firms that broker credit to consumers by way of business must be registered with and authorised and regulated by the Financial Conduct Authority (FCA).
View blog
Can an employee, who has been in breach of their contract in the past, successfully bring a claim for breach of contract by their employer following their dismissal?
On 16 July 2019 the Serious Fraud Office released details of the Deferred Prosecution Agreement reached with Sarclad Ltd in July 2016.
The FCA are encouraged to find that the implementation of the new rules has encouraged financial institutions to manage whistleblowing cases and concerns fairly, consistently and in a manner that protects the individual whistleblower.
Technical Director, Tax
Select which mailings you would like to receive from us.
Sign up