New Clause 4 - Procedure when right to acquire ceasesto be exercisable
Social Security Contributions
12:30 pm
Mr Howard Flight (Arundel and South Downs, Conservative)
I beg to move, That the clause be read a Second time.
I referred to the new clause when we discussed amendments to clause 1. It is a possible alternative to our first suggestion of a special NIC crystallising on exercise and would provide for repayment of NIC, with a facility for partial repayment if only part of the option lapses because the share is under water or someone has left employment. The Minister said that the Government intend the Bill to provide that quid pro quo, but it is unsatisfactory for companies or employees to pay tax that they do not need to pay and it is not proper to ask people to gamble on an outcome. The Government should consider the new clause as a possible option to cover that.