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Part II The Office of Director, 9 Taxation of Directors’ Earnings and Benefits

Thomas Chacko

From: Company Directors: Duties, Liabilities, and Remedies (4th Edition)

Edited By: Mark Arnold KC, Simon Mortimore KC

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 14 July 2024

Approved person — Conduct of business regulation — Regulated persons

This chapter discusses the taxation of directors' earnings and benefits. It cites that the most of tax issues in the context of directorships primarily revolve around the director’s income tax liability. Any income from the director's position will be charged as employment income under the Income Tax (Earnings and Pensions) Act 2003 (ITEPA), wherein officer-holders were regarded as employees generally. The chapter then details the golden hellos and termination payments of directors before outlining the tax implications of various share schemes that might be used. It also includes the tax issues concerned with the director's status, such as tax consequences of a director receiving funds in breach of duty.

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