A Share Incentive Plan (SIP) is an employee share scheme under which employees may acquire shares in their company, with tax reliefs. They enjoy relief against income tax and NI to purchase shares and/or receive free shares without being taxed on their value. All employees must be allowed to participate.
If you would like to explore how employee ownership or an employee share scheme might be introduced in your company, please contact us for an initial discussion.
We are happy to meet at our offices without charge or commitment and will be very pleased to hear from you.