ARTICLE · 01 AUGUST 2000

Weekly Tax Briefing

KPMG

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Finance Act 2000

The Finance Bill is expected to receive Royal Assent on 28 July 2000.

Share-Based Payment - Corporation Tax Treatment

ASB proposals

Last week, the Accounting Standards Board (ASB) issued a Discussion Paper on ‘Share-based Payment’. The Paper discusses the accounting treatment of transactions whereby entities purchase goods or services from other parties, such as suppliers and employees, by issuing to them shares or share options. In particular, the Paper focuses on accounting for employee share options.

The ASB’s Foreword to the Discussion Paper notes that implementing the proposals would result in a significant change to accounting practice, particularly for employee share schemes. At present, where a company purchases employee services by issuing share options, in many cases no expense is recognised in the company’s profit and loss account (P&L). In contrast, applying the proposals in the Paper would result in a charge to the profit and loss account.

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