David Whiscombe (BKL) examines the tax issues surrounding an acquisition of shares by an employee in their employer company, and he contends that they are ‘from’ the employment less often than is commonly assumed.
The phrase ‘conventional wisdom’ is often credited to J K Galbraith. In The Affluent Society he uses the term to describe ‘ideas which are esteemed at any time for their acceptability’. Conventional wisdom exists in taxation as it does in many other fields. As in other fields it is not always right.
Take the case where an employee acquires shares in the company that employs him giving consideration for them that is less than their market value. Conventional wisdom will tell you that in nearly every case there is a charge to income tax on the acquisition under the basic charging rules: that is a charge under ITEPA 2003 s 62. The...
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David Whiscombe (BKL) examines the tax issues surrounding an acquisition of shares by an employee in their employer company, and he contends that they are ‘from’ the employment less often than is commonly assumed.
The phrase ‘conventional wisdom’ is often credited to J K Galbraith. In The Affluent Society he uses the term to describe ‘ideas which are esteemed at any time for their acceptability’. Conventional wisdom exists in taxation as it does in many other fields. As in other fields it is not always right.
Take the case where an employee acquires shares in the company that employs him giving consideration for them that is less than their market value. Conventional wisdom will tell you that in nearly every case there is a charge to income tax on the acquisition under the basic charging rules: that is a charge under ITEPA 2003 s 62. The...
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If you do not subscribe but are a registered user, please enter your details in the following boxes:
