Hi there,
I am working for a UK-based company as a self-employed sole trader living in NSW.
The UK-based company is putting in place a Share Option Plan that they want me to be a part of. For the UK resident that work for the company, this will be constructed as an Enterprise Management Incentives (EMI) Scheme, which I understand provides a tax-efficient way of awarding shares to qualifying participants at a flat 20% tax rate.
I'm doing the vast majority of my work for this company and they want to set me up in the Incentives Scheme. However, we are facing the obvious obstacles of me being an Australian tax resident and a registered sole trader, and therefore I won't be able to join this exact scheme.
In light of this, what do the experts suggest, when it comes to options on how to best accommodate me in the scheme? Or is there a similar scheme that should be set up separately, or are there ways of awarding similar benefits in other ways, in accordance with the Australian law and tax system?
Thought I'd reach out here to see if anyone has some initial advice.
Thanks in advance - much appreciated.
I am working for a UK-based company as a self-employed sole trader living in NSW.
The UK-based company is putting in place a Share Option Plan that they want me to be a part of. For the UK resident that work for the company, this will be constructed as an Enterprise Management Incentives (EMI) Scheme, which I understand provides a tax-efficient way of awarding shares to qualifying participants at a flat 20% tax rate.
I'm doing the vast majority of my work for this company and they want to set me up in the Incentives Scheme. However, we are facing the obvious obstacles of me being an Australian tax resident and a registered sole trader, and therefore I won't be able to join this exact scheme.
In light of this, what do the experts suggest, when it comes to options on how to best accommodate me in the scheme? Or is there a similar scheme that should be set up separately, or are there ways of awarding similar benefits in other ways, in accordance with the Australian law and tax system?
Thought I'd reach out here to see if anyone has some initial advice.
Thanks in advance - much appreciated.