Additional Tax payable when becoming a director - UK Business ...

Hello,

I am in the process of officially becoming a director of a company that I work in and coincidentally co-founded in 2010 (I was not in a position to become a director for financial reasons at the time). As part of this change I will obtain voting rights as my share will be increased to 5%. Early in the company set-up an EMI scheme was put in place for key employees. As part of the current restructuring I have been advised that, by becoming a director with voting rights (e.g. 5%) that this will be subject to a "Tax Event" or I will need to pay some amount of Capital Gains tax.

My question is does this sound right and what might this look like in tax terms? I just want to ensure I am in possession of relevant facts to ensure I am fully protected

Regards
Chris

Source: http://www.ukbusinessforums.co.uk/forums/showthread.php?t=277333

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