A tax incentive for profit sharing

Article Abstract:

Great Britain's government is considering tax relief proposals for employees who receive 20 percent or more of their remuneration in the form of profit participations. Encouraging profit sharing programs by offering tax reductions could benefit the British economy by causing greater public interest in productivity and matching pay levels with economic conditions, which could in turn discourage employee layoffs during economic crises. The tax relief concept is supported by Chancellor Nigel Lawson.

Compensation management, Wages, Wages and salaries, Incentives (Business), Bonuses, Profit sharing

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Beware of strange gifts late at night

Article Abstract:

The Finance Act 1976, Sections 60-63, deals with the tax treatment of employee benefits outside normal expenses for work transportation, travel, gifts, and entertainment. Frequently, the taxability of such benefits depends on one's rank and income. The Inland Revenue Service has been investigating such benefits with the result that some employee benefits are now being taxed which were not before.

Laws, regulations and rules, Employee benefits

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