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To ensure it was able to retain a core group of key staff members, RJP advised the company to offer an approved share option scheme. This would not only be tax efficient for the company, but would ensure any business critical employees could participate in the future growth of the company and therefore be more likely to remain loyal.

RJP helped the client to launch an enterprise management initiative (EMI) share scheme, which has enabled staff to benefit from only paying 10% tax on the gains they will make on a future sale of the business.

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31 December 2020 - Review disposals of chargeable assets to avoid a possible CGT increase

Capital gains tax is due to be reviewed by the government and if a CGT rise is announced, the new rates may become effective from the next tax year on 6 April 2021. Take advice now if you are thinking of selling property or have other assets giving rise to a capital gains tax liability.