Archive for March 2015

Share Plans go online in the UK: major changes to the tax notification and administration procedures

Two major changes have been introduced with effect from the tax year ending 5 April 2015 and later years which affect employee share plans operated in relation to employees in the UK. Any company with share plans which benefit employees resident in the UK for tax purposes will need to address these changes.

The first of these changes is that from 6 April 2014 the system under which tax-advantaged share plans were “approved” by HM Revenue and Customs was discontinued and replaced with an online self-certification system. The second is that all annual reporting for share plans (and notifications of the grants of enterprise management incentive (EMI) options) must be made online for the tax year ending 5 April 2015 onwards (and plans need to be registered first).

For affected companies, action needs to be taken by no later than 6 July 2015.

Get the full update here

UK Employment Law

Episode 67The View from Mayer Brown

Nick looks at three recent EAT decisions. The first considers whether an employer had constructive knowledge of an employee’s disability. The second considers whether an award of damages for injury to feelings is taxable. Thirdly, the EAT clarifies one aspect of the test for a TUPE service provision change.

To follow Nick on Twitter, please go to Nicholas Robertson@NicholasRober11 to receive links to all the cases mentioned.

(If you're having trouble playing the podcast, please download it.)

UK Employment Law

Episode 66The view from Mayer Brown

Nick considers three cases, one on the use of a contractual right to vary hours of work, one on reliance on misconduct from five years earlier to defeat a claim for notice pay, and finally the first reported Tribunal case involving e-cigarettes.

To follow Nick on Twitter, please go to Nicholas Robertson@NicholasRober11 to receive links to all the cases mentioned.

(If you're having trouble playing the podcast, please download it.)

Employment Round-up

In our monthly update of key employment law decisions we look at the reason for dismissal where contract changes are proposed, jurisdiction issues in a whistleblowing claim, and whether claiming sick pay can affirm an employee’s contract.

Please see our update for details.

UK Trustee Quarterly Review, February 2015

We are pleased to present the February 2015 edition of our Trustee Quarterly Review. In this edition we discuss:

• PPF levy deadlines: don’t forget them!
• Annual allowance regime: corrective changes
• DC governance and charges: new statutory requirements from April 2015
• April 2015 reforms: tax legislation for DC flexibilities finalised
• April 2015 reforms: changes to transfer rights
• Pensions liberation: Ombudsman determinations
• High Court guidance on trustee duties and whether a scheme is “open” or “frozen”
• Overpayments: change of position defence and limitation periods
• Bank ring-fencing: pensions regulations finalised
• Derivatives – the implications of EMIR for pension schemes: update
• Upcoming Pensions Group events at Mayer Brown
• Statutory revaluation and pension increases – aide memoire
• Dates and deadlines

Click here to download the entire Review as a PDF.

If you have any questions on any of the issues raised in this edition, or to request a printed copy, please do get in touch with your usual Mayer Brown contact or:

Audit Rights should reflect the relationship between Customer and Service Provider

A recent English High Court Decision is a useful reminder that audit provisions are not always standard form “boiler plate” provisions which can be adopted in a uniform way across a variety of licensing or outsourcing arrangements. This is particularly relevant in scenarios where the Service Provider may acquire limited rights to use data generated during the course of the contract for its own independent purposes such as the provision of analytics services and/or where the Service Provider is engaged in providing similar services to competitors of the Customer.

Download text.