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ARTICLE · 10 MARCH 2023

Welcome Changes To The Key Employee Engagement Programme

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The Key Employee Engagement Programme ("KEEP") was amended in the most recent Irish Finance Act, which came into operation from 1 January 2023 ("Finance Act 2022"). These welcome changes...

IrelandTax
Colm Rafferty
Colm Rafferty
Morgan Pierse
Morgan Pierse
Jordan O'Brien
Jordan O'Brien
William Darmody
William Darmody
Lynn Cramer
Lynn Cramer
William Fogarty
William Fogarty
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The Key Employee Engagement Programme ("KEEP") was amended in the most recent Irish Finance Act, which came into operation from 1 January 2023 ("Finance Act 2022"). These welcome changes should see an increase in its uptake which, until this point, has been relatively low as the rules underpinning KEEP were complex and did not always align with the commercial reality of how small and medium-sized enterprises ("SMEs") operate.

KEEP and its Advantages

KEEP is a tax efficient share option scheme for SMEs and start-up businesses which is designed to support and incentivise SMEs in their efforts to attract and retain key employees. SMEs can be at a disadvantage when hiring skilled workers as they have to compete with salaries and benefits offered by larger companies and KEEP is a welcome addition to the SME toolbox.

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