Consultation outcome

Employee Share Schemes: NIC elections

This consultation has concluded

Read the full outcome

Employee Share Schemes: NIC elections - consulation response

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Detail of outcome

This document is the response to the consultation on the ability to make National Insurance Contributions elections.


Original consultation

Summary

A consultation on whether companies with non tax-advantaged share schemes require the continued availability of a National Insurance Contribution (NIC) election.

This consultation ran from
to

Consultation description

A NIC election is the means of legally transferring to the employee the Employer’s Class 1 NIC obligation on the occasion of chargeable events in connection with employment-related securities options, and with restricted or convertible employment-related securities. This consultation is designed to gather views and evidence from companies with nontax-advantaged share schemes about whether there is a need for the continued availability of a NIC election. NIC agreements will continue to be available.

The consultation is particularly relevant for accounting and legal advisers of companies which offer non tax-advantaged share schemes, particularly multinational companies with UK employees.

Documents

Employee Share Schemes: NIC elections

Request an accessible format.
If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email different.format@hmrc.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Updates to this page

Published 20 April 2016
Last updated 18 October 2016 + show all updates
  1. Published summary of responses document.

  2. First published.

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