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The information on Groklaw is not intended to constitute legal advice. While Mark is a lawyer and he has asked other lawyers and law students to contribute articles, all of these articles are offered to help educate, not to provide specific legal advice. They are not your lawyers.

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In the UK? | 98 comments | Create New Account
Comments belong to whoever posts them. Please notify us of inappropriate comments.
In the UK?
Authored by: bugstomper on Monday, July 01 2013 @ 08:47 PM EDT
Here's a quote from
http://www.hmrc.gov.uk/budget2013/tiin-5104.pdf "Corporation tax
deductions for employee share
acquisitions" in a paragraph that summarizes the current law (before some
proposed tweaks that the document is about):

-----

Part 12 Corporation Tax Act 2009 (CTA 2009) provides the main statutory rules
governing the CT relief available when companies grant share options or award
shares to their employees. The general effect of Part 12 CTA 2009 is to link the
CT relief available to the amount that is chargeable to income tax when the
shares are acquired by the employee; or the amount that would be chargeable to
income tax if the employee was a UK resident or if any relevant tax advantages
did not apply.

----

In short, the laws are already designed so the government gets their tax either
from the corporate tax or the income tax, depending on where the money ends up.
The taxes may be deferred if they don't come into effect until the employee
cashes out, or they may be less or more depending on how share prices change,
but that is not the same as Apple avoiding taxes to the detriment of the
government unless the government has set up the laws to make them tax benefits
for the employees.


[ Reply to This | Parent | # ]

  • It's not about Apple - Authored by: Anonymous on Monday, July 01 2013 @ 10:55 PM EDT
  • In the UK? - Authored by: Anonymous on Tuesday, July 02 2013 @ 05:26 AM EDT
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