The UK published a draft Finance Bill for 2014. The draft legislation enacts a recommendation of the UK ‘Office of Tax Simplification’ that the tax treatment of all employment-related securities should be consistent for internationally mobile employees.
The new legislation subjects the portion of any such award that relates to workdays in the UK to UK tax. Although a welcome announcement for proponents of a simpler tax system, it may result in additional costs for individuals and corporations. Read more.