Business sale payout mess [on hold]
The small company I work for is potentially about to be sold (in the UK). I was meant to be getting share options sorted out, but was told that by the time they got around to sorting it out it would have been too close to the sale of the company for me to be able to cash them in. I have been promised the equivalent amount as a bonus upon sale, but this will be taxed as income (as opposed to the tax relief of share options). I will be continuing in my current (or similar) role after the sale.
Whilst the sale figure has not been confirmed, for a sense of scale lets assume the untaxed amount coming to me is in the region of £100k. Does anyone know of any other schemes available that could provide tax relief similar to a share options scheme in this scenario? I'm talking about squeaky clean, legal, above board schemes only here by the way!
bonus taxes
asked yesterday
workerworker
6
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worker is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
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put on hold as off-topic by gnat, Thomas Owens, Philip Kendall, The Wandering Dev Manager, bruglesco yesterday
This question appears to be off-topic. The users who voted to close gave this specific reason:
- "Questions seeking advice on company-specific regulations, agreements, or policies should be directed to your manager or HR department. Questions that address only a specific company or position are of limited use to future visitors. Questions seeking legal advice should be directed to legal professionals. For more information, click here." – Thomas Owens, Philip Kendall, The Wandering Dev Manager, bruglesco
If this question can be reworded to fit the rules in the help center, please edit the question.
add a comment |
The small company I work for is potentially about to be sold (in the UK). I was meant to be getting share options sorted out, but was told that by the time they got around to sorting it out it would have been too close to the sale of the company for me to be able to cash them in. I have been promised the equivalent amount as a bonus upon sale, but this will be taxed as income (as opposed to the tax relief of share options). I will be continuing in my current (or similar) role after the sale.
Whilst the sale figure has not been confirmed, for a sense of scale lets assume the untaxed amount coming to me is in the region of £100k. Does anyone know of any other schemes available that could provide tax relief similar to a share options scheme in this scenario? I'm talking about squeaky clean, legal, above board schemes only here by the way!
bonus taxes
asked yesterday
workerworker
6
New contributor
worker is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
put on hold as off-topic by gnat, Thomas Owens, Philip Kendall, The Wandering Dev Manager, bruglesco yesterday
This question appears to be off-topic. The users who voted to close gave this specific reason:
- "Questions seeking advice on company-specific regulations, agreements, or policies should be directed to your manager or HR department. Questions that address only a specific company or position are of limited use to future visitors. Questions seeking legal advice should be directed to legal professionals. For more information, click here." – Thomas Owens, Philip Kendall, The Wandering Dev Manager, bruglesco
If this question can be reworded to fit the rules in the help center, please edit the question.
2
Talk to a UK tax specialist, not a bunch of online users who like helping - this is too important... And hope it all goes well.
– Solar Mike
yesterday
Thanks for the advice. There is actually an accountant researching this also. I should probably just leave it to them, but I thought I'd put out some feelers.
– worker
yesterday
A solicitor specialising in tax, or a tax specialist may be more appropriate, accountants are fairly knowledgable about general tax, but for some things you're best with a specialist.
– ThomasRedstone
yesterday
What sort of time scale - ideally you would want an EMI scheme but ours took over 9 months to sort out complicated by having to comply with EU law.
– Neuromancer
20 mins ago
add a comment |
The small company I work for is potentially about to be sold (in the UK). I was meant to be getting share options sorted out, but was told that by the time they got around to sorting it out it would have been too close to the sale of the company for me to be able to cash them in. I have been promised the equivalent amount as a bonus upon sale, but this will be taxed as income (as opposed to the tax relief of share options). I will be continuing in my current (or similar) role after the sale.
Whilst the sale figure has not been confirmed, for a sense of scale lets assume the untaxed amount coming to me is in the region of £100k. Does anyone know of any other schemes available that could provide tax relief similar to a share options scheme in this scenario? I'm talking about squeaky clean, legal, above board schemes only here by the way!
bonus taxes
asked yesterday
workerworker
6
New contributor
worker is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
The small company I work for is potentially about to be sold (in the UK). I was meant to be getting share options sorted out, but was told that by the time they got around to sorting it out it would have been too close to the sale of the company for me to be able to cash them in. I have been promised the equivalent amount as a bonus upon sale, but this will be taxed as income (as opposed to the tax relief of share options). I will be continuing in my current (or similar) role after the sale.
Whilst the sale figure has not been confirmed, for a sense of scale lets assume the untaxed amount coming to me is in the region of £100k. Does anyone know of any other schemes available that could provide tax relief similar to a share options scheme in this scenario? I'm talking about squeaky clean, legal, above board schemes only here by the way!
bonus taxes
bonus taxes
asked yesterday
workerworker
6
New contributor
worker is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
asked yesterday
workerworker
6
New contributor
worker is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
asked yesterday
workerworker
6
New contributor
worker is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
asked yesterday
workerworker
6
asked yesterday
workerworker
6
6
New contributor
worker is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
New contributor
worker is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
worker is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
put on hold as off-topic by gnat, Thomas Owens, Philip Kendall, The Wandering Dev Manager, bruglesco yesterday
This question appears to be off-topic. The users who voted to close gave this specific reason:
- "Questions seeking advice on company-specific regulations, agreements, or policies should be directed to your manager or HR department. Questions that address only a specific company or position are of limited use to future visitors. Questions seeking legal advice should be directed to legal professionals. For more information, click here." – Thomas Owens, Philip Kendall, The Wandering Dev Manager, bruglesco
If this question can be reworded to fit the rules in the help center, please edit the question.
put on hold as off-topic by gnat, Thomas Owens, Philip Kendall, The Wandering Dev Manager, bruglesco yesterday
This question appears to be off-topic. The users who voted to close gave this specific reason:
- "Questions seeking advice on company-specific regulations, agreements, or policies should be directed to your manager or HR department. Questions that address only a specific company or position are of limited use to future visitors. Questions seeking legal advice should be directed to legal professionals. For more information, click here." – Thomas Owens, Philip Kendall, The Wandering Dev Manager, bruglesco
If this question can be reworded to fit the rules in the help center, please edit the question.
2
Talk to a UK tax specialist, not a bunch of online users who like helping - this is too important... And hope it all goes well.
– Solar Mike
yesterday
Thanks for the advice. There is actually an accountant researching this also. I should probably just leave it to them, but I thought I'd put out some feelers.
– worker
yesterday
A solicitor specialising in tax, or a tax specialist may be more appropriate, accountants are fairly knowledgable about general tax, but for some things you're best with a specialist.
– ThomasRedstone
yesterday
What sort of time scale - ideally you would want an EMI scheme but ours took over 9 months to sort out complicated by having to comply with EU law.
– Neuromancer
20 mins ago
add a comment |
2
Talk to a UK tax specialist, not a bunch of online users who like helping - this is too important... And hope it all goes well.
– Solar Mike
yesterday
Thanks for the advice. There is actually an accountant researching this also. I should probably just leave it to them, but I thought I'd put out some feelers.
– worker
yesterday
A solicitor specialising in tax, or a tax specialist may be more appropriate, accountants are fairly knowledgable about general tax, but for some things you're best with a specialist.
– ThomasRedstone
yesterday
What sort of time scale - ideally you would want an EMI scheme but ours took over 9 months to sort out complicated by having to comply with EU law.
– Neuromancer
20 mins ago
2
2
Talk to a UK tax specialist, not a bunch of online users who like helping - this is too important... And hope it all goes well.
– Solar Mike
yesterday
Talk to a UK tax specialist, not a bunch of online users who like helping - this is too important... And hope it all goes well.
– Solar Mike
yesterday
Thanks for the advice. There is actually an accountant researching this also. I should probably just leave it to them, but I thought I'd put out some feelers.
– worker
yesterday
Thanks for the advice. There is actually an accountant researching this also. I should probably just leave it to them, but I thought I'd put out some feelers.
– worker
yesterday
A solicitor specialising in tax, or a tax specialist may be more appropriate, accountants are fairly knowledgable about general tax, but for some things you're best with a specialist.
– ThomasRedstone
yesterday
A solicitor specialising in tax, or a tax specialist may be more appropriate, accountants are fairly knowledgable about general tax, but for some things you're best with a specialist.
– ThomasRedstone
yesterday
What sort of time scale - ideally you would want an EMI scheme but ours took over 9 months to sort out complicated by having to comply with EU law.
– Neuromancer
20 mins ago
What sort of time scale - ideally you would want an EMI scheme but ours took over 9 months to sort out complicated by having to comply with EU law.
– Neuromancer
20 mins ago
add a comment |
1 Answer
1
active
oldest
votes
Does anyone know of any other schemes available that could provide tax
relief
I wouldn't call it a "scheme", but the company could always pay the tax amount instead of you having to do so.
I've received a similar bonus in the past. The bonus was increased by the amount equal to the taxes due.
answered yesterday
Joe StrazzereJoe Strazzere
251k1247271033
Scheme in this case means a HMRC approved one - its a very UK specific tax law term.
– Neuromancer
19 mins ago
add a comment |
1 Answer
1
active
oldest
votes
1 Answer
1
active
oldest
votes
active
oldest
votes
active
oldest
votes
Does anyone know of any other schemes available that could provide tax
relief
I wouldn't call it a "scheme", but the company could always pay the tax amount instead of you having to do so.
I've received a similar bonus in the past. The bonus was increased by the amount equal to the taxes due.
answered yesterday
Joe StrazzereJoe Strazzere
251k1247271033
Scheme in this case means a HMRC approved one - its a very UK specific tax law term.
– Neuromancer
19 mins ago
add a comment |
Does anyone know of any other schemes available that could provide tax
relief
I wouldn't call it a "scheme", but the company could always pay the tax amount instead of you having to do so.
I've received a similar bonus in the past. The bonus was increased by the amount equal to the taxes due.
answered yesterday
Joe StrazzereJoe Strazzere
251k1247271033
Scheme in this case means a HMRC approved one - its a very UK specific tax law term.
– Neuromancer
19 mins ago
add a comment |
Does anyone know of any other schemes available that could provide tax
relief
I wouldn't call it a "scheme", but the company could always pay the tax amount instead of you having to do so.
I've received a similar bonus in the past. The bonus was increased by the amount equal to the taxes due.
answered yesterday
Joe StrazzereJoe Strazzere
251k1247271033
Does anyone know of any other schemes available that could provide tax
relief
I wouldn't call it a "scheme", but the company could always pay the tax amount instead of you having to do so.
I've received a similar bonus in the past. The bonus was increased by the amount equal to the taxes due.
answered yesterday
Joe StrazzereJoe Strazzere
251k1247271033
answered yesterday
Joe StrazzereJoe Strazzere
251k1247271033
answered yesterday
Joe StrazzereJoe Strazzere
251k1247271033
answered yesterday
Joe StrazzereJoe Strazzere
251k1247271033
251k1247271033
Scheme in this case means a HMRC approved one - its a very UK specific tax law term.
– Neuromancer
19 mins ago
add a comment |
Scheme in this case means a HMRC approved one - its a very UK specific tax law term.
– Neuromancer
19 mins ago
Scheme in this case means a HMRC approved one - its a very UK specific tax law term.
– Neuromancer
19 mins ago
Scheme in this case means a HMRC approved one - its a very UK specific tax law term.
– Neuromancer
19 mins ago
add a comment |
2
Talk to a UK tax specialist, not a bunch of online users who like helping - this is too important... And hope it all goes well.
– Solar Mike
yesterday
Thanks for the advice. There is actually an accountant researching this also. I should probably just leave it to them, but I thought I'd put out some feelers.
– worker
yesterday
A solicitor specialising in tax, or a tax specialist may be more appropriate, accountants are fairly knowledgable about general tax, but for some things you're best with a specialist.
– ThomasRedstone
yesterday
What sort of time scale - ideally you would want an EMI scheme but ours took over 9 months to sort out complicated by having to comply with EU law.
– Neuromancer
20 mins ago