Inland Revenue Share Incentive Plans

Halliwell Consulting considers that one of the biggest hindrances for companies considering the implementation of a SIP is the complication of the administration. Therefore, our professional administrators have had full training on all the tax implications of the plan and our administration is focused on ensuring that neither the company nor participants in the plan are caught out by the unexpected.

Our bespoke administration system has the following features:-

• Automatic up-linking and downloading of information between the administrators and the company financial, secretarial and human resource departments (this can also be linked into third party trustees and brokers).
• Tracking of all types of shares that can be awarded under the plan (partnership, free and matching shares) with tax rules that can be set by the system to ensure that "prohibited" transactions are not progressed.
• Automatic audit trail of all transactions on the administration system.
• Web enabled participant statements.
• Automated production of all plan documentation including:-
  • Partnership and free share agreements.
  • Participant statements.
  • Management information for the company.
  • Inland Revenue tax returns.
  • Tax vouchers.
  • General employee communication.
• Standard administration features:-
  • Database management.
  • Help line.