Profit related pay

Article Abstract:

The Profit Related Pay Scheme of the Finance Act of 1987 provides that employees may share in employer profits as a form of wages. Half of any compensation received by an employee through the plan is tax-exempt up to 3,000 pounds sterling, or 20% of compensation, whichever is lower. Any company can participate, as long as it is showing a profit. That is true of companies which may not be doing well, but which have a profitable subsidiary. It is accountants' duty to advise clients on the costs and benefits of such a profit related pay plan and to help set it up. Requirements include such things as: criteria for employee participation, source of program funds, payment frequency, and program length. The program will also require frequent auditing.

Compensation and benefits, Human resource management, Profit sharing, Great Britain

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Ae fond kiss and then ... separation and divorce

Article Abstract:

The Family Law Scotland Act 1985 provides options for divorced couples in terms of matrimonial property, business property, and other assets. Each of these has specific meanings that can only be interpreted within the context of the specific marriage and divorce proceedings. Couples contemplating divorce may wish to familiarize themselves with these laws, especially since it is possible to divide property and assets before the divorce takes place. Couples are also reminded that they lose capital gains tax exemption when separated, but not divorced.

Laws, regulations and rules, Scotland, Separation (Law), Marital separation, Divorce

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Capital gains: indexation and investment

Article Abstract:

Significant changes have been made for the taxation of investment losses and gains in the Finance Act of 1985. Also, new indexation regulations for capital gains have been set in the new law. There is still a logical fallacy for the management of relief, because there is not a mandatory link between the asset's cost and its inflation rate.

Accounting and auditing, Capital gains tax

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