SME NewsCGT Changes Hit Employee Shareholders
Tax hike for employee shareholders from 8 April 2008.
Over 270,000 Save As You Earn (SAYE) employee shareholders could be hit by large tax increases as a result of the Chancellor’s botched changes to the Capital Gains Tax regime.
ifs ProShare, the not for profit membership organisation that promotes employee share ownership in the UK, believes that 16% of those in SAYE schemes will be hit by an additional 13% tax on any gain over £9,200 from April 2008.
Fiona Downes, head of employee share ownership recommends those affected seek advice rapidly.
With tens of thousands of SAYE participants being affected and many more likely to have concerns, advisers can play an important role in advising share scheme participants on how to minimise the impact of these changes.
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