Share Incentive Plan 鈥� consequential change because of the Neonatal Care (Leave and Pay) Act 2023
This tax information and impact note is about a change to the notice an employer must give to an employee regarding the possible effect of deductions from salary, in relation to a Share Incentive Plan. This change is because of Statutory Neonatal Care Pay being introduced from April 2025.
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This measure will make a minor change to Schedule 2 Paragraph 48(2) of the Income Tax (Earnings and Pensions) Act 2003 and the 鈥楨mployee Share Ownership Plans (Partnership Shares 鈥� Notice of Effects on Benefits, Statutory Sick Pay and Statutory Maternity Pay) Regulations 2000鈥� to ensure that the notice an employer must give to an employee regarding the possible effect of deductions from salary, in relation to a Share Incentive Plan, will refer to Statutory Neonatal Care Pay as well as other statutory payments.