TheBigShort
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Big Short,
Many people, not just posters, read AAM for informational purposes.
I would certainly not want to create an expectation among employees of unquoted SMEs that each and every employee would be included in KEEP as I think that would be highly irresponsible.
Apologies, I've edited the post now.
You didn't edit it very well pal!
I've confirmed for you no such thing, as I am not the minister for finance and therefore not in a position to confirm anything.
.
I've edited it again. See how we go this time?
Don't drag me into it!WOOHOO, SHARES FOR EVERYONE!
Tell your friends Sarenco said so!!
Well now you're just gonna confuse everyone who reads the last few posts...
If you totally agreed that we should be doing everything we can to keep our best and brightest here you'd be pushing for a reduction in the marginal rate of tax. That is the single biggest factor in why people leave and why others won't come here.I totally agree.
Reading this post, and with some...ahem!...common sense, should lead them back beyond the the last few posts. I doubt if there is a large audience, if any at all.
You have moved your position from "it should be open to all employees" to "the employer should decide who the scheme is open to".
I think everyone agrees with that position.
the employer should decide who the scheme is open to".
I think everyone agrees with that position.
If you totally agreed that we should be doing everything we can to keep our best and brightest here you'd be pushing for a reduction in the marginal rate of tax. That is the single biggest factor in why people leave and why others won't come here.
Which is it, should it be open to all employees or should the owner/boss decide?My position was that it should be open to all employees, not some undefined notion of 'key' employee. The prevailing thought in some quarters was that the 'top guy's' or the scientists and the engineers and high skilled workers would be the ones to qualify, and not the receptionist or the accountant or the assembly line worker.
Nope, I think the owner/boss should decide.It would appear that you have moved from your position too.
This will drag the thread off topic. Since we often do that maybe we should let it drop. And yes, I know I started it.That is what the scheme effectively does, or effectively offers the opportunity to circumvent the PAYE system and pay a 33% rate.
I have argued that the level of income that a person enters the marginal rate is far too low.
I disagree with cutting the rate in the absence of a plausible alternative revenue raising scheme to fund the deficit that would ensue. Cutting services, welfare rates or wages of public sector workers to fund a cut in the marginal rate, to me, is simply not plausible.
Which is it, should it be open to all employees or should the owner/boss decide?
I think I know where the confusion lies.
The OP referenced a press release from DoF. It explicitly outlined 'key' employees. The topic ensued as to what is, what is not a 'key' employee. I proposed that the scheme be rolled out to all employees. That is, if an employer in a qualifying company, is experiencing high staff turnover on the factory floor due to, say, wage pressures in the economy, causing disruption in production and a tightening of cash flow. Being a qualifying SME start-up, it should be open to the employer to offer the terms of the KEEP scheme to its factory floor staff, rather than compete with more established competitors with greater cash resources, hampering the development of an otherwise good company with good products.
If the offer is beneficial to the employees (ie they already pay tax at marginal rate) they can, like the scientists and engineers etc, choose to avail of the offer or not.
Okay, so the employer decides who is or isn't a key employee?
If so I agree.
I don't think anyone was suggesting otherwise. The only person/people who can determine who is key and who isn't will be in the company.Yes, and that it is not restricted to the so-called 'top guys', the engineers, scientists etc, that it is open to all employees, effectively meaning that any employee in a qualifying company can be determined as 'key'.
I don't think anyone was suggesting otherwise.
The idea behind KEEP is to enable indigenous Irish firms to recruit and retain top quality talent so that they can compete with multi-nationals.
I cannot see this being extended to employees who are not of that calibre.
Who in God’s name would want to award share options to non-key employees?
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