Budget 2008 Amendments
EMI plans:
- With effect from 6 April 2008, the individual option grant limit for EMIs will be increased to £120,000.
- Measures will also be introduced, with effect from Royal Assent, to bring EMIs, in line with the EU state aids rules by providing that firms with more than 249 employees, and those involved in shipbuilding, and coal and steel production, will no longer be able to issue qualifying EMI options.
Capital Gains Tax
- The annual CGT exemption limit will rise from £9,200 to £9,600 from 6 April 2008
- The CGT tax will change to a flat rate of 18% from 6 April 2008 and taper relief will no longer apply, which will affect SAYE participants who have held shares for more than two years
Resident but Not Ordinarily Resident employees
- The tax treatment of employees who are resident but not ordinarily resident in the UK when they are granted share options etc will be brought into line with those who are resident and ordinarily resident.
Full Budget Report can be read in full at:
