A recent TCC case has highlighted the pitfalls associated with trying to ignore adjudication proceedings A recent Technology and Construction Court case illustrates the risks to a responding party of not participating in adjudication proceedings. The facts of Lobo v Corich & Anor  EWHC 1438 (TCC) were straightforward, if a little unusual. Facts of […]
The ‘gig economy’ has been very much in the news in recent months. While much of the political attention has been focused on the employment effects of this phenomenon, the implications for UK tax are wide-ranging and hugely significant. What is the gig economy? The name refers to the general trend of workers using an […]
Summary The High Court recently ruled, in a landmark case brought by the Serious Fraud Office (SFO), that the Eurasian Natural Resources Corporation (ENRC) must hand over documents generated by an internal investigation by the company, including notes taken by lawyers of interviews with ENRC’s employees. The SFO’s application was made in the course of […]
There are various ways to motivate and reward key employees through share-based incentives. The optimum structure for any given company will depend on its specific circumstances and commercial objectives. Enterprise Management Incentive (EMI) option plans are widely recognised as an attractive and very tax efficient structure and are therefore the first port of call for […]
The Competition and Markets Authority (CMA), the UK’s primary competition and consumer authority, has fined Ping Europe Limited (Ping) £1.45m for preventing two UK retailers from selling Ping’s golf clubs online. Although Ping had a commercial objective, imposing the restriction to promote in-store customer fitting, the CMA concluded that Ping could have achieved this through […]
Almost all leases include an obligation on the landlord to insure the building. The main reason for this is that the landlord has a capital interest in the building and wants to control its state of repair by way of insurance and service charge rent. Additionally, where the building has several tenants, it is far […]
What is the purpose of growth shares? Growth shares are used in employee incentive planning. They are often considered when an employer does not qualify for one of the tax advantaged share option structures (e.g. EMI or CSOP; see our separate briefing notes for more detail on these topics). Growth shares offer an alternative means […]
What is a nil paid share? Nil paid shares are used in employee incentive planning. They are often considered when an employer does not qualify for one of the tax advantaged share option structures (e.g. EMI or CSOP, see our separate briefing notes for more detail on these topics). They offer an alternative means to […]
What is a Joint Share Ownership Plan? A Joint Share Ownership Plan (JSOP) is an incentive structure designed to provide equity to senior employees without a significant Income Tax charge and enable them to participate in any future growth in value of the company. Future growth in value of the shares should be subject to […]
What is an EMI share option plan? EMI stands for “Enterprise Management Incentive”. Like any share option plan, an EMI plan involves giving an employee a contractual right (an option) to acquire shares at some point in the future for a specified price. However EMI plans offer significant tax advantages to other forms of option […]
What is a Company Share Option Plan? A Company Share Option Plan (CSOP) is a form of share option arrangement that qualifies for certain government approved tax benefits. It is less attractive than an Enterprise Management Incentive (EMI) share option plan (see our EMI briefing note) in both tax and practical terms, so it is […]
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