Employee benefit trusts

Developing effective strategies within employee benefit trusts is essential for a seamless share incentive framework. Legal practitioners in this field must adeptly manage trust arrangements, navigate regulatory requirements, and implement tax-advantageous solutions. This guidance aids in optimising employee participation plans while ensuring compliance and alignment with the company's objectives.

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SHARE INCENTIVES

In this issue: Tax treatment Corporate governance New content Useful information Dates for your diary Weekly highlights from other practice areas Tax treatment Reminder-Annual share schemes returns filing deadline is 6 July 2026 Companies that run either tax-advantaged or non-tax-advantaged employee share schemes where UK participants obtain shares or share-based awards must file an annual return online with HMRC for each scheme. For the 2025–26 tax year, the submission deadline is 6 July 2026, and a return can only be filed if the scheme has already been registered with HMRC. HMRC provides templates, guidance and technical notes setting out the details required. As each scheme type has its own template, care should be taken to select the correct version. Where a registered scheme has no reportable events during the relevant year, a nil return is still...

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SHARE INCENTIVES

In this issue: New content Useful information Dates for your diary Weekly highlights from other practice areas New content Q&As Can an enterprise management incentives (EMI) option be structured to be exercised on an exit, whilst also empowering the board—subject to the approval of the shareholders—with additional discretion to permit exercise in other situations? Can EMI scheme rules be amended so that performance conditions are introduced for future option awards, without in any way disturbing options already granted? May a fully listed company lawfully issue EMI options, provided that the other conditions set out in Schedule 5 to ITEPA 2003 are satisfied? Is a company able to grant EMI options to employees who are based outside the UK?... ...

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SHARE INCENTIVES

In this issue: EMI Q&As HMRC Manuals tracker Dates for your diary Weekly highlights from other practice areas EMI Reminder: Increased EMI thresholds and period for exercise now apply From 6 April 2026, higher limits and a longer exercise window take effect for most companies qualifying for EMI, following the Finance Act 2026 in practice......

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SHARE INCENTIVES

In this issue: EMI Employee benefit trusts Regulatory matters Trackers Dates for your diary Weekly highlights from other practice areas EMI HMRC updates ETASSUM for increased EMI thresholds and period for exercise HMRC has revised the guidance in its Employee Tax Advantaged Share Scheme User Manual to reflect higher thresholds and a longer exercise period, which will take effect for the majority of EMI-eligible companies from 6 April 2026, pursuant to Finance Act 2026, s 13. ETASSUM updated accordingly......

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PRACTICE NOTES

This Practice Note monitors the development of UK legislation brought forward under the legislative programme linked to the UK’s departure from the EU. It also features a Brexit SI database that compiles details of both draft and made secondary legislation related to Brexit. Quick links Use the links below to go directly to the relevant section or tracker. Practice area trackers Follow the links below for trackers focused on Brexit legislation across specific practice areas: Commercial Corporate Crime Dispute Resolution Employment Energy Environment Financial Services Information Law Intellectual Property Life Sciences Local Government Pensions Property R& I Tax For further updates and guidance tailored to individual practice areas, see: Brexit collection......

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PRECEDENTS

PART ONE— GENERAL PROVISIONS 1 Definitions and interpretations This Rule sets out the glossary for the Plan and how those terms should be read. Defined expressions cover, among others: Awards and outcomes: Contingent Awards, Restricted Awards, Matched Awards, Options and Cash Awards, together with Date of Grant, Option Price, Exercise Price, Market Value, Dividend Equivalent and the concept of Vesting; People and entities: the Company (acting through the Board or a duly authorised committee, which may include the Remuneration Committee), Eligible Employees, Participants (and their personal representatives), the Group and its Subsidiaries, Associated Companies, the Grantor, the Nominee, the Trustee and Trust, and HMRC; Timeframes and dealing: Financial Year, Dealing Day, Closed Period, Grant Period, Holding Period, Relevant Period and the Plan Period; Shares and schemes: Shares, Employees’ Share Scheme and Company Share Scheme, Invested Shares and Invested Share Amount, and...

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PRACTICE NOTES

Continuing obligations of an AIM company A company admitted to trading on AIM (an AIM company) is required to observe a set of ongoing requirements contained in the AIM Rules for Companies ( AIM Rules), as issued by London Stock Exchange plc ( LSE). Such a company should also take account of the AIM Rules for Nominated Advisers, which outline the duties and expectations of its nominated adviser, together with the AIM Disciplinary Procedures and Appeals Handbook in full. There are further applicable legal and regulatory regimes which include the Companies Act 2006 ( CA 2006), the Financial Services and Markets Act 2000 ( FSMA 2000), the Financial Services Act 2012 ( FSA 2012), the City Code on Takeovers and Mergers (the Takeover Code), certain relevant sections of the Disclosure Guidance and Transparency Rules ( DTR), and the UK Market Abuse...

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When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

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This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

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Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

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I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...

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