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Business Tax: Employment matters and incentivisation

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Richard Godmon - Menzies Accountant

Richard Godmon – Business Tax Partner

People are often a business’s greatest asset, so it is important to carefully consider how best to attract, retain and motivate your key employees.  

Empirical studies have shown that providing key employees with valuable shares or share option rights can be a very powerful incentive and motivator. 

The employing company invariably benefits from increased commitment and productivity, as well as the retention of those hard to replace senior staff.  

There are several approved share incentive arrangements in the UK, such as the Enterprise Management Incentives (EMI) share option scheme. What is a good fit for your business and at what point in your life cycle will depend on your specific facts and plans for the business.    

Employing staff brings with it many legal obligations and tax considerations.  Including of course the structure of the employment package benefits and pension considerations. 

There may also be support available for your business, e.g. under the Apprenticeship Levy scheme, or grants.

Contact Menzies Business Tax Team
















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Richard Godmon - FCA CTA

Partner

Richard Godmon is a Menzies Tax Partner in the Solent office specialising in business tax for SME businesses and personal tax planning for individuals.