ARTICLE · 02 FEBRUARY 2007

SIP To SIPP

CMS Cameron McKenna Nabarro Olswang

Explore more from CMS Cameron McKenna Nabarro Olswang

A number of companies which operate Revenue-approved Share Incentive Plans (SIPs) are being approached by providers of self-invested personal pension plans (SIPPs) to facilitate the transfer of employees' shares from the Company's SIP to SIPPs.

United KingdomEmployment and HR

Nicholas Stretch

Sue El Hachmi

A number of companies which operate Revenue-approved Share Incentive Plans (SIPs) are being approached by providers of self-invested personal pension plans (SIPPs) to facilitate the transfer of employees' shares from the Company's SIP to SIPPs. This is because SIP shares can be transferred tax-free after the fifth anniversary of award and many companies made their first award of shares under the SIP in 2001.

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The Revenue-approved Share Incentive Plan (SIP) is a tax effective way for companies to award shares to their employees and many companies have now put these in place. When an employee has held his Share Incentive Plan (SIP) shares for five years or more, he may transfer or sell them without an income tax or capital gains tax charge ie tax-free.

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