Tax-structured share schemes linked to appropriate performance-related targets provide an opportunity to deliver efficient and meaningful rewards for employees, depending on the future success of the business. Some schemes offer equity throughout the workforce, while others focus exclusively on senior executives. Equity-based rewards can have a significant impact on staff retention, participation levels and personnel performance while managing remuneration costs through potential employer social security savings.
Our Workforce team designs innovative remuneration strategies that not only promote loyalty, but also enhance the employer's brand. In this context, we advise a wide range of Irish-owned and multinational companies on all aspects of equity-based reward, including the effective administration of share plans.
When considering equity-based reward, choosing the right plan, or plans, is vital. Issues you may need to consider include:
To ease both the strategic and administrative burden, our expert team can help you design and develop effective equity-based reward plans, assist in the Revenue approval process and implement the plan. We can also create appropriate employee communications and assist with the ongoing administration and management of the plan where required.
All employer-share reporting is due by 31 March following the tax year-end. The annual reporting obligations for employers who operate share schemes for their employees include:
Revenue's digital capability is continually evolving alongside increased scrutiny of employer returns. With that in mind, all returns should be submitted correctly and on time to avoid subsequent Revenue intervention.
Our team can help you ensure that your organisation's reporting obligations are met. We can also manage your organisation's employee communications regarding employees' personal reporting obligations.
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