More complex, year by year

Article Abstract:

Profit related pay (PRP) programs have become a highly popular component of compensation packages in the UK. As of Mar. 1995, the country had 9,425 registered PRP plans covering close to two and a half million employees. However, changes in PRP legislation introduced by the 1994 and 1995 Finance Acts (FA) are expected to increase the complexity of PRP schemes. FA 1994 contains amendments to Sch. 8 of ICTA 1988 that were intended to prevent perceived abuses in plan design. Unfortunately, these changes are applied arbitrarily and can inadvertently cause significant distortions. FA 1995's amendments are not as complicated as those introduced by FA 1994. However, the new changes include additional items that can be classified as an exclusion from the computation of profit under a PRP plan.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Wages & Hours Regulation, Labor law, Wages and salaries

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NIC - think again before you try to beat the new rules

Article Abstract:

Various methods for avoiding Great Britain's National Insurance when paying corporate officers and other employees are shown to be illegal in hypothetical situations as well as in actual court cases. Special stock issuances, the National Insurance laws as a tax, and abuse of rights are included in the discussion. Accountants and managers are advised to scrutinize the legality of any scheme designed to circumvent National Insurance costs.

Great Britain

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Measure to make

Article Abstract:

The author discusses that there should be a standard reporting practice in business for better information in the market.

United Kingdom, Product standards, safety, & recalls, Standards, Evaluation, Corporate social responsibility, Viewpoint essay

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