Employee share ownership plans in the UK: a practitioners' manual
Saved in:
| Format: | Book |
|---|---|
| Language: | Undetermined |
| Published: |
London <<[u.a.]>>
Butterworth
1990
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Item Description: | Nebent.: ESOPs |
| Physical Description: | XXX, 166 S. |
| ISBN: | 0406129118 |
Staff View
MARC
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| 245 | 1 | 0 | |a Employee share ownership plans in the UK |b a practitioners' manual |c written and ed. by David E. Reid ... |
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| 999 | |a oai:aleph.bib-bvb.de:BVB01-021688284 | ||
Record in the Search Index
| _version_ | 1804144526925758464 |
|---|---|
| adam_text | Contents
Foreword by Malcolm Hurlston v
Preface vii
Biographies of the contributors ix
Table of statutes xix
Table of secondary legislation xxiii
Table of extra statutory material xxv
Table of cases xxvii
Suggestions for further reading xxix
1 Introduction 1
by David E. Reid
1.1 Definitions of an ESOP 1
1.8 Corporate finance applications 5
1.13 The US ESOP compared 6
1.21 ESOPs in Europe 9
1.24 Case studies 9
1.24 Case Study 1: The Roadchef ESOP by
Tim Ingram-Hili 9
1.31 Case Study 2: The Yorkshire Rider
ESOP by Bill Cottham 13
2 The UK ESOP 18
by David E. Reid
2.1 The structure of a UK ESOP 18
2.4 The ESOP compared with conventional employees
share schemes 18
xi
Contents
2.7 Possible applications of the UK ESOP 19
2.8. The ESOP in unquoted companies 19
2.12 Could the unquoted company simply
repurchase its own shares? 23
3 Finance for ESOPs 27
by Aidan L. Lang ley
3.1 Sources of finance for UK ESOPs 27
3.1 General 27
3.3 Loans from the company 27
3.9 Loans from an external financier 29
3.20 Voluntary contributions from the
company 30
3.22 Dividends 31
3.30 Interest on convertible securities 32
3.32 Sales of shares to employees 32
3.35 Sales of shares to a profit sharing
scheme 33
3.38 Sales of shares to third parties 33
3.40 The put and call option scheme 33
3.40 General 33
3.43 Advantages for the bank 34
3.45 Taxation advantages 34
3.50 Forms of security available to lenders 36
3.50 Formal security 36
3.53 Margin lending 37
3.55 Guarantees and indemnities 37
3.57 Financial analysis of the comparative costs of various
ESOP structures 38
3.57 General 38
3.58 Loans from the company 38
3.61 Loans from an external financier 39
3.64 Voluntary contributions from the
company 39
3.65 Dividends 39
3.66 Interest on convertible securities 40
3.67 Sales of shares 40
xii
Contents
4 Legal structure of the UK ESOP 41
by Robin T. Tremaine
4.1 The components of the ESOP 41
4.2 Employees benefit trust 41
4.7 Output employees share scheme 42
4.9 Inland Revenue approved profit sharing
scheme 42
4.15 Inland Revenue approved savings-related
share option scheme 44
4.20 Inland revenue approved executive share
option scheme 45
4.25 Unapproved executive share option
scheme 46
4.32 Unapproved share purchase schemes 48
4.36 Grant of options 49
4.40 Checklist of key documents 50
5 Company law and regulatory aspects of UK
ESOPS 52
by Dora Lawson
5.1 Introduction 52
5.2 Directors fiduciary duties 52
5.4 The duty to act bona fide in the best interests of
the company 53
5.5 Meaning of the company 53
5.8 The directors must act for a proper
purpose 54
5.12 Corporate capacity: the company s memorandum
and articles of association 56
5.16 What is an employees share scheme? 58
5.19 Lawful financial assistance for employees share
schemes 59
5.23 Membership of the company s holding
company 61
5.25 Loans to directors 61
527 Allotment of shares 62
5.28 Disclosure 63
xiii
Contents
5.29 The directors 63
5.33 The ESOP 64
5.34 The company 65
5.35 The company s report and accounts 65
5.37 The Financial Services Act 1986 and UK
ESOPs 66
5.38 Authorisation 66
5.44 The company 68
5.48 Cold calling 70
5.49 Investment advertisements 70
5.51 Prospectuses 71
5.52 The ESOP trustees 72
6 Special legal aspects of ESOPs in publicly quoted
companies 77
by Robin T. Tremaine
6.1 Introduction 77
6.2 Memorandum of association 77
6.3 Stock Exchange rules 78
6.9 Institutional Investor Guidelines 79
7 Taxation of the trustees 81
by Michael Marks
7.1 Income Receipts 81
7.1 General 81
7.6 Contributions 82
7.10 Dividends 83
7.12 Non-UK trustees 84
7.17 Disposals of assets 86
7.17 General 86
7.21 Outright distributions 86
7.25 Share options 88
7.27 Non-UK trustees 90
7.33 Inheritance tax 92
xiv
Contents
8 Taxation of the company 97
by Michael Marks
8.1 Outright contributions 97
8.7 Loans 99
8.11 Social security contributions 100
9 Taxation of employees 102
by Michael Marks
9.1 Outright distributions 102
9.8 Share options 104
10 The statutory ESOP 106
by Aidan L. Langley
10.1 General 106
10.3 Structure of the statutory ESOP 106
10.3 The settlor 106
10.4 The trustees 107
10.9 The beneficiaries 108
10.11 The trustees functions 108
10.12 Receiving sums of money 108
10.14 Acquiring securities 109
10.17 Transferring securities and cash 110
10.21 Tax position of the statutory ESOP 111
10.23 The tax relief 111 |
10.31 The special charges to tax 113 ~
10.31 The principal charge to tax 113
10.35 The chargeable event 114
10.40 The chargeable amount 116
10.46 The effects of borrowing 117
11 Fiduciary requirements and other trust law
aspects 120
by R. Murray North
11.1 Nature of the ESOP trust 120
XV
Contents
13.12 Taxation of the foreign employer 153
13.18 Taxation of the foreign employees 155
13.21 Extending a US-qualified ESOP to non-US
employees 155
13.21 The problem 155
13.26 A solution based on a discretionary
trust 156
13.31 Position of the local employing
company 157
13.34 Checklist of local tax treatment of ESOPs in European
Community jurisdictions 158
13.35 Belgium 158
13.36 Denmark 158
13.37 France 158
13.38 Germany (Federal Republic) 158
13.39 Greece 158
13.40 Ireland 159
13.41 Italy 159
13.42 Luxembourg 159
13.43 The Netherlands 159
13.44 Portugal 159
13.45 Spain 159
13.46 The UK 160
Index 161
xvii
|
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| physical | XXX, 166 S. |
| publishDate | 1990 |
| publishDateSearch | 1990 |
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| publisher | Butterworth |
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| spelling | Employee share ownership plans in the UK a practitioners' manual written and ed. by David E. Reid ... ESOPs London <<[u.a.]>> Butterworth 1990 XXX, 166 S. txt rdacontent n rdamedia nc rdacarrier Nebent.: ESOPs Arbeitnehmer (DE-588)4002623-1 gnd rswk-swf Kapitalbeteiligung (DE-588)4122230-1 gnd rswk-swf Großbritannien (DE-588)4022153-2 gnd rswk-swf Großbritannien (DE-588)4022153-2 g Kapitalbeteiligung (DE-588)4122230-1 s Arbeitnehmer (DE-588)4002623-1 s DE-188 Reid, David E. Sonstige oth HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=021688284&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Employee share ownership plans in the UK a practitioners' manual Arbeitnehmer (DE-588)4002623-1 gnd Kapitalbeteiligung (DE-588)4122230-1 gnd |
| subject_GND | (DE-588)4002623-1 (DE-588)4122230-1 (DE-588)4022153-2 |
| title | Employee share ownership plans in the UK a practitioners' manual |
| title_alt | ESOPs |
| title_auth | Employee share ownership plans in the UK a practitioners' manual |
| title_exact_search | Employee share ownership plans in the UK a practitioners' manual |
| title_full | Employee share ownership plans in the UK a practitioners' manual written and ed. by David E. Reid ... |
| title_fullStr | Employee share ownership plans in the UK a practitioners' manual written and ed. by David E. Reid ... |
| title_full_unstemmed | Employee share ownership plans in the UK a practitioners' manual written and ed. by David E. Reid ... |
| title_short | Employee share ownership plans in the UK |
| title_sort | employee share ownership plans in the uk a practitioners manual |
| title_sub | a practitioners' manual |
| topic | Arbeitnehmer (DE-588)4002623-1 gnd Kapitalbeteiligung (DE-588)4122230-1 gnd |
| topic_facet | Arbeitnehmer Kapitalbeteiligung Großbritannien |
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