Reporting the pay difference between Chief Executive and staff It was announced today by the Department of Business, Energy and Industrial Strategy (BEIS) that legislation would be laid before Parliament which states that larger UK Listed companies (with more than 250 employees) be required to publish annually the pay difference between the Chief Executive and…

June 11, 2018 Read more >

Malus and LTIP awards The UK Corporate Governance Code states that long-term incentive plans (LTIPs) must include provisions to enable the company to withhold payments to participants in specified circumstances. It is now common for LTIP Rules to allow the Remuneration Committee to apply these ‘malus’ provisions and also to ‘claw back’ the benefit of…

June 5, 2018 Read more >

Share plan annual returns deadline Annual share plan returns for the tax year ended 5 April 2018 must be submitted online to HMRC no later than 6 July 2018. Returns must be made for the tax-advantaged share plans – SIP, SAYE, CSOP and EMI – and also for unapproved share plans. Items to be reported…

June 1, 2018 Read more >

SAYE permitted missed contributions extended from six to 12 The regulations for Save-As-You-Earn/Sharesave share option schemes allow employees to miss up to six monthly contributions. These contributions can be made up in later months and the bonus date, when options become exercisable, is delayed accordingly. From 1 September 2018, this maximum ‘savings holiday’ is to…

May 30, 2018 Read more >

GDPR and share plans – update As you will be aware from the numerous emails you have received on the subject, the EU General Data Protection Regulation (GDPR) came into effect on 25 May 2018. The Directive has consequences for how data about employees are handled by companies and their agents. One implication which has…

May 25, 2018 Read more >

EMI tax relief extended Enterprise Management Incentives (EMI) are tax-advantaged arrangements for granting share options to employees of smaller companies, with gross assets of no more than £30 million and fewer than 250 employees. European Union (EU) State Aid approval for EMI expired on 6 April 2018 and there was concern that income tax and…

May 15, 2018 Read more >

The Evolution of the Remuneration Committee: proposed changes to the UK Corporate Governance Code and recent changes to the QCA Corporate Governance Code The Impact of the FRC’s proposed changes to the UK Code was the theme for the recent Remuneration Dinner held by MM&K – the latest in its series of dinners for CEOs…

May 1, 2018 Read more >

Remuneration Dinner – 11th June We are hosting our next Remuneration Dinner for Non-executive Directors and CEO’s at the RAC club on 11th June 2018.  If you are interested in attending or receiving the discussion notes afterwards please contact joanne.fegan@mm-k.com for information.

April 25, 2018 Read more >

Grant of EMI Option: current status In the ERS Bulletin #27 published on 4 April 2018, HMRC had stated that following the expiration of the EU State Aid approval for Enterprise Management Incentives (“EMI”) on 6 April 2018, EMI options granted in the period from 7 April 2018 until EU State Aid approval is received…

April 25, 2018 Read more >

GDPR and Share Plans The EU General Data Protection Regulation (GDPR) is due to come into effect on 25 May 2018. The Directive may potentially have consequences for how data about employees are handled by companies and their agents. One implication which has not so far been widely publicised is that amendments may be need…

March 21, 2018 Read more >

Remuneration Dinner event MM&K recently held one of its regular Remuneration Dinners for CEOs and Non-Executive directors. Please click here to read an overview of the evening in which the theme for discussion was: “The Evolution of the Remuneration Committee: the impact of proposed changes to the UK Corporate Governance Code”.

March 19, 2018 Read more >

UK Corporate Governance Code – FRC proposed changes MM&K’s response to the consultation on the changes to the UK Corporate Governance Code proposed by the Financial Reporting Council.  Click here for our submission.

February 28, 2018 Read more >