UK: NEW SCHEME TO BOOST COMPANY SHARE OWNERSHIP
Article Abstract:
A series of changes introduced by the Chancellor Gordon Brown over the last few months has made it more attractive for employees to buy shares in the company they work for. As a result of the proposals employees can now own up to GB[pound] 7,000-worth of shares in the company, provided it is listed on the stock market, without having to pay tax on them. Under the proposals companies can give shares worth GB[pound] 3,000 to a single employee, who can then opt to purchase a further GB[pound] 1,500 of shares. The company can then, if it wishes, match every share purchased with two free shares, up to GB[pound] 3,000. Nigel Mason, chief executive of Myshares, a company that makes systems for administering share schemes, said the scheme provided an incentive for people to stop with a company because in most cases the shares were only free of income tax and capital gains if they were held for a minimum of five years.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 2000
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Sharing the risks and the rewards
Article Abstract:
UK Chancellor Gordon Brown wishes to see an expansion of employee share ownership. He aims initially to double the number of companies in which all employees are entitled to own shares. He may seek to improve the terms of the Save As You Earn scheme, under which employees can invest up to 250 pounds sterling a month in a savings scheme that produces a tax-free bonus after three, five and seven years. In the case of unapproved option schemes, a more radical move would be to postpone the income charge that would otherwise apply on the exercise of the option until the sale of the shares.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1998
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Brown must learn lessons from US-style share option schemes
Article Abstract:
There are indications of increasingly negative attitudes in the US towards the employee share ownership schemes that have created a large number of millionaires. This comes at a time when UK Chancellor Gordon Brown is set to announce a large-scale programme to double employee share ownership. Investors in the US have become concerned about the impact of share option schemes on share values, and are now increasingly vetoing such schemes. Concerns include the fact that a company can be drained of cash if all employees cash in their stock options at the same time.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1999
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