2021 onwards (Jacobs investment) period
In March 2021, Jacobs invested in PA. In our new parent company for the PA Group employees own 35% of PA and our strategic investor Jacobs own 65%. It is envisaged that after three or four years a further investment will be made by Jacobs to increase their ownership proportion and to release cash to employee shareholders.
The shares employees hold in are governed by the Articles of Association.
PA people can invest in PA in our annual share markets
Each April or May year during the investment cycle, we will run and market in PA Share Units to allow employees to buy and sell shares each year including investing using money from annual bonus.
Tax guidance
UK tax guidance for PA share sales from April 2021 onwards
If you sold shares in the annual April/May share market, or your shares were sold later in the year as a leaver from PA, you must consider whether you need to report your sale in your tax return for the tax year (6 April to following 5 April in which your shares were sold. Guidance is provided in our UK capital gains tax notes 2021/22 onwards. The notes include an Excel calculator to help you calculate and report your gain.
Guidance for US, Denmark, Norway, Sweden, Netherland people for share sales April 2021 onwards
If you sold shares in the annual April/May share market, or your shares were sold later in the year as a leaver from PA, you must consider whether you need to report your sale in your tax return for the calendar tax year in which your shares were sold. Guidance is provided on this in our UK Non-UK capital gains tax notes 2021/22 onwards (notes coming soon). The notes include a link to your PA share history showing your purchase and sale prices.
Tax guidance provided by PA for the March 2021 Jacobs investment
As a result of the March 2021 investment all Carlyle period PA shares were sold. PA did not report sales or deduct taxes from the March paid sale proceeds. Shareholders must personally consider reporting the gains they made on their sold shares to their tax authority and paying any taxes due.
UK people need to report any taxable gains in their 2020/21 tax return. Non-UK people report in their 2021 calendary year returns.
UK taxpayers need to assess, and if necessary report, their capital gains on this sale to HMRC by 31 January 2022, any to pay any taxes due by this date. While reporting and tax payment is, and remain, personal responsibility, we want to help and do so though these Tax information notes. You can also use this Jacobs Investment S104 Excel sheet (zipped) to extract your share records and to assess your gains position.
PA shareholders outside the UK should review the Tax information notes for their country. For most, tax reporting will be due in the first half of 2022.
