Backdating employment - Adult Chat Rooms
For example, if one signs a contract on February 1, one may backdate it to January 31.Backdating is usually illegal; for example, one may use backdating to evade taxes.
For instance, one may backdate an insurance claim if there was an unavoidable delay between the date the insured event occurred and the day the claim was made.The practice of allowing a mutual fund shareholder to use previous purchases of the fund's shares so as to qualify for reduced commission charges on subsequent purchases.Backdating is used when a fund offers declining proportional sales charges on larger purchases.Option backdating scandals: how management accountants can help: backdating of employee stock options can have a significant negative effect on a public company.In certain circumstances tax credits claims can be backdated.This section of the website provides information about when claims can be backdated as well as links to HMRC guidance about the backdating process.
The information below was written by the Low Incomes Tax Reform Group.
Standard backdating An initial claim can be backdated if the circumstances entitling the person to tax credits have subsisted for the period of the backdating.
In the context of mutual funds, a feature allowing fundholders to use an earlier date on a letter of intent to invest in a mutual fund in exchange for a reduced sales charge, e.g.
Giving retroactive value to purchases from the earlier date.
In the context of corporate governance, the illegal practice of setting the date of options awarded as part of executive compensation to a period when the stock price was very low (rather than setting the date of the options on the date the award was made).
The act of dating a document before the date it was actually signed.