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Articles by Lynette Jacobs
IA expects UK RemCos to ‘justify LTI changes’ in 2026
The Investment Association has issued its annual letter to remuneration committee chairs setting out its expectations for the 2026 AGM season. The central message is that companies cannot simply adjust or relax their long-term incentive plans without a clear justification that shareholders will accept, and HR has a key role in making sure that message lands internally with the RemCo and leadership teams.
UK expands tax-advantaged EMI share incentives scheme
Lynette Jacobs tells HRNews about reform of Enterprise Management Incentives announced in the recent Budget. We're sorry, this video is not available in your location. For HR professionals and those involved in recruitment, one of the standout announcements from last week’s Budget was the major overhaul of Enterprise Management Incentives which was unveiled by Chancellor Rachel Reeves.
Updated principles of remuneration aim for a competitive UK listing environment
Listed companies in the UK should take note of several important changes to the executive pay guidance as the 2025 annual general meeting (AGM) and reporting season approaches, legal experts have said. The long-awaited update comes after an open letter sent by the IA to remuneration committee chairs in February, indicating the need for an in-depth review of remuneration policy guidelines.
SAYE set to return to Ireland after Revenue approves new savings carrier
Lynette Jacobs tells HRNews about the anticipated announcement of AIB as a new licensed savings carrier supporting SAYE plans in Ireland We're sorry, this video is not available in your location. Employers in Ireland should reconsider the benefits of offering a Revenue approved Sharesave scheme as a way to retain key talent and reward employees.
Sharesave set to return to Ireland with new savings carrier
Lynette Jacobs tells HRNews about the anticipated announcement of AIB as a new licensed savings supporting SAYE plans We're sorry, this video is not available in your location. It will soon again be possible to operate tax-advantaged Sharesave in Ireland once again. A new licensed savings carrier is expected to step into the market in the next few weeks meaning employers with a presence in Ireland will be able to offer staff the benefits of this attractive scheme.
IA’s ‘light touch’ approach signals increased pay flexibility
James Sullivan-Tailyour tells HRNews about some of the pitfalls when awarding discretionary bonuses We're sorry, this video is not available in your location. UK companies have been given a green light to be more competitive on senior pay. The Investment Association has written to companies telling them they can choose the remuneration structure which is most appropriate for their business strategy, and that they have more scope for tailored arrangements for their most senior executives.
Investment Association: UK should be competitive on senior pay
The letter sets out views on issues the IA expects to be important to members during the AGM season. The announcement also confirmed that the IA’s Principles of Remuneration, which would normally have been updated last November, will remain unchanged for now with an update expected later this year. The delay is due to IA roundtable meetings in September last year, generating discussions around pay implications and more generally around the competitiveness of the UK as a listing environment.
Role for share plans to help UK employees ‘feel valued’ amid talent war
Lynette Jacobs tells HRNews how tailoring share plans for hybrid workers can help retain their talent within the business We're sorry, this video is not available in your location. In the war for talent the evidence is clear – flexibility, in terms of hours and location, is the benefit most valued by employees and is a top priority for most employers. But most flexible working benefits are designed for office workers, not home and hybrid workers, so how do you address that issue?
Check share scheme type after Scottish court’s ruling, warns lawyer
James Sullivan-Tailyour tells HRNews about the type of share plans likely to be caught by TUPE after the Court of Session’s decision in Ponticelli Ltd v Gallagher We're sorry, this video is not available in your location. Last week we reported on the Scottish Court of Session’s ruling in Ponticelli Ltd v Gallagher and its impact on share plans.
Communication role for HR now UK’s SAYE bonus rates set
The Revenue has, as we expected, confirmed new bonus rates applying to ‘save-as-you-earn’ share option schemes. In an update published on 7 August, HMRC announced that a new bonus rate mechanism would become effective from 18 August 2023 meaning that any new savings contracts entered into after that date will have a bonus attached – the first time we’ve seen that in almost a decade. We’ll hear from a share plans specialist with a message for HR. A reminder.
Communication vital now SAYE bonus rates set
Lynette Jacobs of Pinsent Masons, who specialises in share incentive matters, was commenting after the new bonus rates applying to SAYE savings contracts entered into by reference to invitations issued on or after 18 August 2023 were confirmed. An SAYE plan, sometimes referred to as a Sharesave scheme, offers eligible employees the opportunity to acquire shares in their employer, or parent, company on a tax-advantaged basis.
Anticipated bonus rate change triggers SAYE plans review
Transcript Employers are being urged to consider whether their ‘save-as-you-earn’ - SAYE - arrangements are fit for purpose following the re-introduction of a tax-free bonus on savings and the publication by the Revenue of new guidance on how the bonus rate will be calculated for this particular scheme. The Revenue’s plans are set out in their latest ERS Bulletin, number 51.
HM Treasury reviews SAYE and SIP schemes
Lynette Jacobs tells HRNews about the government’s consultation on the non-discretionary tax-advantaged employee share schemes, SAYE and SIP We're sorry, this video is not available in your location. Transcript The government has launched a consultation to seek views and gather evidence on non-discretionary tax advantaged share schemes - the Save As You Earn (SAYE) and Share Incentive Plan (SIP) employee share schemes.
Review SAYE arrangements following HMRC bonus rates guidance, say experts
An SAYE plan offers eligible employees the opportunity to acquire shares in their employer, or parent, company on a tax-advantaged basis. The acquisition price for the shares is a fixed, typically discounted, price which is set when the SAYE invitation is first issued. The acquisition price for the shares is funded with the participating employee’s accumulated savings which are built up through regular post-tax deductions from pay over the life of their three- or five-year savings contract.
Welcome changes to EMI options following Spring Budget
Transcript Changes announced in the Spring Budget have made it easier for small and medium sized companies to offer company shares to employees under changes to the Enterprise Management Incentive (EMI) options scheme. The Chancellor, Jeremy Hunt, has removed some of the technical administrative hurdles companies have to clear before being able to offer EMI options.
CSOPs about to become a lot more attractive
Transcript CSOPs are about to become a lot more attractive. It means, in future, operating a company share option plan may be more attractive than your current arrangements so perhaps now is a good time to review your benefits package and, quite possibly, make changes to it. As part of its Growth Plan, back in September the Government announced in the Mini Budget in September that they planned to double the CSOP limit from £30,000 to £60,000.
Share based remuneration in Ireland - key considerations and recent developments
Share based remuneration in Ireland – the key considerations and recent developments you need to know from an employment, corporate and commercial, and tax perspective.
EMI schemes a useful way for UK start-ups to incentivise staff
Transcript You’re an early-stage company looking to attract and incentivise employees but you can’t yet afford to offer them big salaries. So what’s the answer? A possible solution might be an EMI scheme. We’ll take a look at that. Enterprise Management Incentive options, EMIs, are an attractive because they offer tax-advantaged and flexible incentives for companies and employees that meet the qualifying criteria.
Role for HR in communicating ESG share plans targets
Transcript The Investment Association (IA) has published an updated version of its Principles of Remuneration setting out its members' expectations for executive pay for 2023. They reflect developments in market practice and investor expectations, including, notably, linking pay to ESG targets. The IA highlights an increasing trend for companies to incorporate ESG performance metrics into variable executive pay.
Employee share schemes can boost productivity amid UK cost-of-living crisis
The key principle here is that the reward is gained after the actual productivity is achieved and the level of that reward is based on the actual productivity. This additional incentive to improve productivity can also help to restore levels of supply, easing the level of excess demand within the economy.
Check SAYE scheme rules with bonus rates increase ahead, warn lawyers
Lynette Jacobs and James Sullivan Tailyour tell HRNews why employers operating SAYE should prepare for potential increase in bonus rates We're sorry, this video is not available in your location. Transcript If you are one the many employers with a Save-as-you-Earn scheme then prepare for an increase in bonus rates. That’s because the Revenue is considering changes to the way the rates are calculated.
Renewing your DRP? Check alignment of your share plan rules
Transcript More than half of FTSE listed companies are planning to renew their Directors’ Remuneration Policy at their next AGM. Why is that necessary and what is HR’s role? We’ll consider that. The requirement to put a DRP to shareholders recurs at least every three years.
Government launches Future of Work Review
Lynette Jacobs tells HRNews about the role share plans in hybrid workers’ benefits packages We're sorry, this video is not available in your location. Transcript The government has announced it will conduct a review into how it can best support a thriving future UK labour market. The review will be led by MP Matt Warman and will build on existing government commitments, including those made in response to the Matthew Taylor Review as well as new ways of working, including hybrid working.
Employee share incentives for unlisted companies
The employee will not bear any financial risk if the shares fall in value until they decide to exercise the option and acquire the shares. Equally, until options are exercised, the employee is not a shareholder and has no right to vote at shareholder meetings or to receive any dividends. Options are normally granted by the company, but may be granted by an existing shareholder (for example, a founder) or another third party, which could be a trust.
Enterprise Management Incentive (EMI) options
Enterprise Management Incentive (EMI) options offer tax-advantaged and flexible incentives for companies that meet the qualifying criteria. EMI options are intended to help smaller companies with growth potential to recruit and retain the best employees. They offer generous tax advantages to employees of those companies that qualify. For companies and employees who meet the qualifying conditions, EMIs are a flexible and tax-favoured share incentive arrangement.
Save As You Earn (SAYE) Share Option Plans
The proceeds of the savings contract, which may include a tax-free bonus, are used to acquire shares in the company for a price fixed when the share option is granted. This may be set at a discount of up to 20% below the market value of the shares at that time. No tax is charged on the grant of the share option and, in almost all circumstances, no income tax or National Insurance contributions (NICs) will be charged on any profit made when the option is exercised.
Firms could face administrative burdens amid UK SAYE rule change
Businesses could face potential administrative difficulties in coming weeks, an expert has warned, after chancellor Rishi Sunak announced a return to pre-Covid rules for Save As You Earn (SAYE) participants. Under SAYE, also known as Sharesave, a qualifying company’s employees can choose to save between £5 and £500 of their salary each month over a 36- or 60-month term.
RemCo reform the way to improved people and pay governance
Transcript A new report has been published on employee share plans and the benefits they can deliver. It is a joint publication by the CIPD and the High Pay Centre offering practical guidance to HR Directors and board members on how to improve their people and pay governance through RemCo reform and by including the workforce in the pay-setting process.
Online share plans registration deadline looms
An important deadline is fast approaching affecting certain reward schemes. You must register with the Revenue all new employment-related securities, including one-off awards or gifts of shares, by 6 July. So, all new tax advantaged schemes should be registered by 6 July following the tax year it was established. After that date three very popular schemes cannot be registered, namely Share Incentive Plans, Save as You Earn and Company Share Option Plans.
FTSE 350 firms ‘could do better’ on employee engagement
Are you doing enough to give your employees a voice in your business? FTSE 350 companies ‘could do better’ according to a report published by the employee engagement body, the IPA. They say too many of firms are treating their corporate governance responsibilities on workforce representation as a ‘tick-box exercise’.
International share plans: how do you manage the project?
Transcript So, you want to launch an international share plan? How do you manage a project of that scale? Last week we looked at the reasons why companies might want to launch an international share plan and the role of HR in that project. That is ‘International share plans ‘bring people together’ in Covid times’ and features an interview with share plans specialist Lynette Jacobs – that’s available for viewing on the Outlaw website if you’ve not seen it.
International share plans ‘bring people together’ in Covid times
Transcript If you are an international business that has survived the pandemic so far, there may be opportunity for HR to lead on a project that not only attracts and retain talent but also helps grows the brand. More than a year into the pandemic, McKinsey has published a paper which sets the scene. It’s called ‘The new possible: How HR can help build the organization of the future’.
Rewarding staff in Covid times with SAYE and SIPs
Transcript How do you reward and motivate staff in the midst of a pandemic when a pay rise is not an option? The answer, for many employers right now, is with an all-employee share scheme and it is noticeable how interest in this particular reward structure has taken off lately.
Complying with directors' remuneration report disclosures
UK-registered quoted companies need to make a number of new disclosures in their directors' remuneration report for financial years ending 31 December 2020 onwards. Companies listed on the Alternative Investment Market (AIM) are not "quoted companies" for these purposes. The legislation implementing these changes was enacted in order to comply with the requirements of the Shareholders' Rights Directive II, and came into force on 10 June 2019.
With end of pandemic in sight, ‘use shares to reward and retain employees’
Incentivising and retaining your best talent is obviously a good idea, but it for many businesses we see it has become absolutely essential to their survival. When something as huge as a global pandemic strikes, the challenge for businesses is to try to weather the storm and hopefully thrive at the end of it.
Consider Covid-19 impact before paying executive bonuses, says investment body
The Investment Association (IA) has reinforced the principle that companies must treat executives and staff consistently when it comes to remuneration, particularly in the light of the Covid-19 pandemic. The IA, which represents 250 UK-based investment managers, released an updated version of its Principles for Remuneration (20 page / 397KB PDF) with accompanying guidance on the impact of Covid-19 (4 page / 231KB PDF) on executive remuneration.
The wicked challenge of rethinking internationalisation in Southern Africa
The Covid-19 pandemic gives universities an opportunity to find new ways of ensuring the health and well-being of students (Madelene Cronje) COMMENT Covid-19 has caused frantic activity in Southern African and global higher education circles. A vibrant discourse on the characteristics of post-pandemic internationalisation has emerged.
Calls to reform executive pay 'understandable', but recommended changes need further thought, say experts
Proposed measures to better link executive pay to company performance, and restrain the growing inequalities between top and average pay, were detailed in a new report published by the Commons Business, Energy and Industrial Strategy (BEIS) Select Committee. The report also made recommendations on how to improve gender and ethnic diversity in UK boardrooms, amongst other things.
UK tax rules for IMEs (internationally mobile employees)
In broad outline, under the new rules, UK income tax will arise on a time apportioned basis for most types of share award. There will be some “winners” and some “losers” when compared with the previous rules. The new rules enact recommendations made by the UK’s Office of Tax Simplification (OTS).
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