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After April 2017, all large UK companies will be required to report on their payment practices and performance. This new requirement is one of a number of ways in which the government is trying to tackle the problem of late payment for small and medium enterprises.
The High Court has today sanctioned a scheme of arrangement by which Severn Trent Water will acquire all the voting shares of Dee Valley Group plc.
This briefing provides an overview of the latest news and views on Brexit, and looks at the legal risks for UK businesses, giving some insight into the prospects for M&A and the public markets, and issues which should be factored into contingency planning over the coming months.
In 2002, the European Insolvency Regulation (EIR) introduced a regime governing the administration of insolvent corporates or individuals which operate in more than one member state of the European Union (EU). A "recast EIR" will apply to insolvency proceedings commenced on or after 26 June 2017.
Performance Share Plans offer executives the opportunity to acquire shares in a company by reference to its success measured against performance targets. Participants are granted options at an exercise price set at nil or nominal value.
Share Incentive Plans are all-employee, tax-advantaged share ownership plans. Companies can award each participant free shares worth up to £3,600 per year.
Employee Benefit Trusts (EBTs) are trusts which can be established by companies to help with the operation of their employee shareplans. EBTs can be established onshore or offshore and can be funded by loans or contributions from group companies.
Under an Enterprise Management Incentive (EMI) Plan a company can grant tax-advantaged share options to selected employees. The rules governing the terms of EMI options are very flexible which means they can be tailored to deliver the desired incentive and reward.
Also known as 'SAYE Option Schemes' or 'Save-As-You-Earn Schemes'
Company Share Option Plans are the traditional method of giving employees a personal interest in the future success of a company. Options are granted at their current market value and can be tax-advantaged up to £30,000 per person.
Amidst the negative publicity surrounding incentives with 'unacceptable' tax-avoidance features, it is important to remember those plans that can be designed within tax-favourable HMRC rules. Although there are limits on the levels that can be awarded under such plans, the benefits of tax-advantaged status should not be underestimated.
2017 is the year in which many UK quoted companies will, once again, have to put their remuneration policies to a binding shareholder vote. Although the 2017 AGM season is still some way off, early preparation is advisable, especially in light of increasing shareholder interest in executive remuneration.
Following the UK's referendum vote in favour of leaving the EU and the appointment of Theresa May as prime minister, this briefing considers the key legal implications for the commercial real estate sector.
From 1 August 2016, you can transfer personal data from the EU to organisations in the US that have committed to adhere to the principles of the EU-US Privacy Shield. Here we examine what this means for UK and other EU businesses.