Profit-related Pay

Introduced in 1987, Profit-Related (PRP) is part of an employee's pay formally linked to the profits of the business in which he or she works. These schemes now number 7000 and are set to grow futher as they offer numerous benefits. This text is a practical guide to the legal, taxation, procedural and accounting aspects of setting up and administering PRP schemes. Adopting a transactional approach, it deals with all the steps involved from the initial considerations in setting up schemes. Using a number of case studies, the coverage also includes important employee-related issues such as maternity pay, pensions, overtime, equal opportunities and issues affecting the company such as business reorganisations. This work is intended for: solicitors specializing in company law, employment law and taxation; accountants in practice; employee benefits consultants and actuaries; in-house finance directors; company secretaries; and PRP advisors and consultants.
 
Introduced in 1987, Profit-Related (PRP) is part of an employee's pay formally linked to the profits of the business in which he or she works. These schemes now number 7000 and are set to grow futher as they offer numerous benefits. This text is a practical guide to the legal, taxation, procedural and accounting aspects of setting up and administering PRP schemes. Adopting a transactional approach, it deals with all the steps involved from the initial considerations in setting up schemes. Using a number of case studies, the coverage also includes important employee-related issues such as maternity pay, pensions, overtime, equal opportunities and issues affecting the company such as business reorganisations. This work is intended for: solicitors specializing in company law, employment law and taxation; accountants in practice; employee benefits consultants and actuaries; in-house finance directors; company secretaries; and PRP advisors and consultants.