Overview

On 24 March, the Chancellor of the Exchequer delivered what has been described as a "workmanlike" Budget for 2010.

With a general election now only weeks away, it was inevitable that Alistair Darling would put forward proposals that might appeal directly to voters. Many of these did not come as a great surprise since HM Revenue & Customs (HMRC) had both already hinted at a number of them in recent months and made reference to the potential changes in the autumn's Pre-Budget Report.

In this update we consider the Budget measures that impact on share-based employee incentives together with a reminder of the changes that take effect from 6 April. This includes a freeze on the rate of capital gains tax; an important change to approved company share option plans; anti-avoidance measures for share incentive plans; the future of family benefit trusts and employee benefit trusts and the confirmation of amendments to bank payroll tax.

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