Decision to phase out PRP could backfire
Article Abstract:
The UK government is phasing out tax benefits for profit-related pay (PRP). This move could increase staff costs for many major UK companies. The move could increase the numbers of unemployed by 100,000 people, according to Chantrey Vellacott's Philip Fisher. Some employees can be paid in shares and retain tax benefits so long as the shares are held for three years, but lower-paid employees may not be able to forgo pay for shares. Not all companies will increase pay to compensate for the tax increase, and Kwik-Fit is one company that has no plans to do so.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
Value for money
Article Abstract:
The United Kingdom launched its Charity Taxation Review in 1997, and charities were consulted on tax issues, but they were disappointed by the treatment of value-added tax (VAT) in a consultation paper for the Mar 1999 Budget. Charities are unable to recover VAT for non-business activities A compensation scheme suggested by charities was rejected, but the consultation paper suggested extending other exemptions and reliefs. A lower rate of VAT would help charities and would be easy to administer.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
We don't want your money
Article Abstract:
Stockholders may receive payments from companies seeking to boost stockholder value, and this can affect the tax position of United Kingdom stockholders. There are no problems if the investor can use the annual capital gains tax allowance, but a number of companies are using stock buybacks and cash takeovers, which can leave investors with tax problems. Buy-backs may become less common as the business cycle progresses, and companies start to acquire cheap assets with their cash.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Behind the bottom line. Tax warning. Can't figure it out
- Abstracts: Planning to reduce the taxman's inheritance. The tax form cometh. Still time to cope with self-assessment
- Abstracts: All systems go. Cable & Wireless: Value in telecoms. Cray Electronics
- Abstracts: Boeing's blast at Airbus. Cost worry hits Boeing. The Boeing KC-767 tanker is seen as the only smart choice
- Abstracts: A wake-up call on base rates. UK base rates: base motives?