Sometimes a group of companies which has reorganised itself will want to backdate some of those changes, perhaps to backdate an intra-group transfer of business so that it coincides with the previous year end.
Here are some guidelines as to what may be possible from a legal perspective.
Different considerations may apply from accounting and tax perspectives, and those aspects should be taken into account too.
Businesses with a property with a rateable value of £12,000 and below will receive 100% relief.And to say it's up to the bean-counters to catch this situation is silly, because the whole reason you're using phony dates is so that the bean-counters won't know what you really did.And this is why defenses to backdating sometimes get hard for me to understand.Gregory Reyes, Brocade's CEO from 1998 to 2005, was also ordered to pay a million fine. Reyes broke down crying while speaking to the judge before his sentence was handed down.He was released on his own recognizance until a federal appellate court can hear the case.If someone presents you with a spreadsheet of the last month's stock prices and asks you to pick the date on which you want to pretend that you granted, or were granted, several million options, might that not at least spur further inquiry?When then-general counsel Nancy Heinen emailed Apple (AAPL) CEO Steve Jobs such a spreadsheet on January 30, 2001, she noted that it was a bad idea to choose January 2 as the grant date--even though that was the day the stock had been at its lowest--if they wanted "to avoid any perception that the Board was acting in appropriately [sic] for insiders prior to Macworld announcements." (They ultimately chose one of the next-best dates from after Macworld.) Now isn't it obvious to everyone on that email that shareholders are being misled?Small business rate relief is a national discount scheme administered by the council on behalf of the Government.It is awarded on a sliding scale depending on the size of your Rateable Value (RV). This means you may be able to reduce your bill to nothing, depending on your Rateable Value (RV).The former chief executive of Brocade Communications Systems Inc.was sentenced on Wednesday to 21 months in prison for orchestrating a scheme to tamper with financial records of stock options the company offered. District Judge Charles Breyer said Reyes obstructed justice in preparing for trial.