– see also Employee share schemes

Administration

Approval

Commentary – Tax Reporter ¶468-800

Company reconstructions

Commentary – Tax Reporter ¶468-880

Individual savings accounts (ISAs)

Commentary – Tax Reporter ¶468-920

Plan rules and trust deed

Commentary – Tax Reporter ¶468-820

Power to require information

Commentary – Tax Reporter ¶468-840

Termination of a plan

Commentary – Tax Reporter ¶468-900

All-employee nature of

Commentary – Tax Reporter ¶468-050

All-employee participation

Commentary – Tax Reporter ¶468-030

All-employee requirement

Commentary – Dalby on Employee Share Schemes - Equity Reward for Private Companies 12.5.1

All-employees nature of plan

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 8

Approval

Appeal against withdrawal

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 85

Application for

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 81
HMRC Guidance – TSEM5425

Disqualifying events

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 84

Generally

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 1

Refusal, appeal against

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 82

Withdrawal

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 83, 84

Approved, meaning

Legislation/Regulatory – ITEPA2003 s. 488(4)

Armed forces reservists

Legislation/Regulatory – ESC A103

Associated company, meaning

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 94

Award of shares, meaning

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 5

Capital gains tax

Deemed disposal by trustees on disposal of beneficial interest

Legislation/Regulatory – TCGA92 Sch. 7D, para. 6

Different classes of shares

Legislation/Regulatory – TCGA92 Sch. 7D, para. 4

Disposal of rights under rights issues

Legislation/Regulatory – TCGA92 Sch. 7D, para. 8

Dwelling-houses

Commentary – Tax Reporter ¶361-325

Enterprise investment scheme shares

Commentary – Tax Reporter ¶361-350

Forfeited shares

Legislation/Regulatory – TCGA92 Sch. 7D, para. 7

Gains accruing to trustees

Legislation/Regulatory – ITEPA2003 Sch. 7, para. 86 ; TCGA92 Sch. 7D, para. 2

Generally

Commentary – Tax Reporter ¶361-250 ; Tax Reporter ¶468-700 ; Dalby on Employee Share Schemes - Equity Reward for Private Companies 15.4.3

Participant absolutely entitled

Legislation/Regulatory – TCGA92 Sch. 7D, para. 3

Re use of EBT

Commentary – Dalby on Employee Share Schemes - Equity Reward for Private Companies 11.5.1

Reinvestment of disposal proceeds

Commentary – Tax Reporter ¶361-300

Reliefs

Commentary – Tax Reporter ¶361-275

Shares ceasing to be subject to plan, no chargeable gain

Legislation/Regulatory – TCGA92 Sch. 7D, para. 5

Transfer of shares to

Legislation/Regulatory – TCGA92 Sch. 7C

Cash dividends and dividend shares

Acquisition of dividend shares

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 66

Amounts to be carried forward

Legislation/Regulatory – FA2013 Sch. 2, para. 83, 89 ; ITEPA2003 Sch. 2, para. 68 ; ITTOIA2005 s. 405-408

General requirement for dividend shares

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 65

Generally

Legislation/Regulatory – FA2013 Sch. 2, para. 82, 85 ; ITEPA2003 Sch. 2, para. 62

Holding period for dividend shares

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 67

No requirement to reinvest

Legislation/Regulatory – FA2013 Sch. 2, para. 84 ; ITEPA2003 Sch. 2, para. 69

Requirements to be met

Legislation/Regulatory – FA2013 Sch. 2, para. 86-88 ; ITEPA2003 Sch. 2, para. 63

Company reconstructions

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 86, 87

Company takeovers

Commentary – Dalby on Employee Share Schemes - Equity Reward for Private Companies 15.8

Corporation tax deduction

Commentary – Dalby on Employee Share Schemes - Equity Reward for Private Companies 6.1Dalby on Employee Share Schemes - Equity Reward for Private Companies 15.5

Corporation tax deductions

Clawback on withdrawal of approval

Commentary – Tax Reporter ¶716-464

Disallowed deductions

Commentary – Tax Reporter ¶716-456

Forfeited shares

Commentary – Tax Reporter ¶716-458

Free or matching shares

Commentary – Tax Reporter ¶716-452

Generally

Commentary – Tax Reporter ¶468-720 ; Tax Reporter ¶716-450

Partnership shares

Commentary – Tax Reporter ¶716-454

Running costs

Commentary – Tax Reporter ¶716-462

Set-up costs

Commentary – Tax Reporter ¶716-460 ; Tax Reporter ¶716-470

Corporation tax overview

Legislation/Regulatory – CTA2009 s. 983, 984

Deductions allowable

Acquisition of shares

Legislation/Regulatory – CTA2009 s. 989-993
HMRC Guidance – BIM44255 ; CG56493

Anti-avoidance provisions

Legislation/Regulatory – CTA2009 s. 989(6A), (6B)

Contributions to plan trust

Legislation/Regulatory – CTA2009 s. 989-993, Sch. 2, para. 105, 106

Dividend shares, deductions disallowed

Legislation/Regulatory – CTA2009 s. 997

Excluded employees

Legislation/Regulatory – CTA2009 s. 992, Sch. 2, para. 106

Free or matching shares

Legislation/Regulatory – CTA2009 s. 994, 996
HMRC Guidance – BIM44253

Generally

Legislation/Regulatory – CTA2009 s. 985
HMRC Guidance – BIM44253

Insurance companies

Legislation/Regulatory – CTA2009 s. 985

Investment company management expenses

Legislation/Regulatory – CTA2009 s. 985

Partnership shares, additional expenses

Legislation/Regulatory – CTA2009 s. 995, 996

Priority rules

Legislation/Regulatory – CTA2009 s. 1037

Running expenses

Legislation/Regulatory – CTA2009 s. 988
HMRC Guidance – BIM44253

Setting-up costs

Legislation/Regulatory – CTA2009 s. 987
HMRC Guidance – BIM44020

Trustees, payments to

Legislation/Regulatory – CTA2009 s. 989-993

Withdrawal of approval of plan

Legislation/Regulatory – CTA2009 s. 998
HMRC Guidance – BIM44255

Definitions

Commentary – Tax Reporter ¶468-940
Legislation/Regulatory – ITEPA2003 Sch. 2, para. 99, 100

Directors and senior employees

Commentary – Tax Reporter ¶468-080

Directors/senior employees, no preferential treatment

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 10

Disposals to trustees

Legislation/Regulatory – TCGA92 s. 236A, Sch. 7C

Disqualifying events

Commentary – Dalby on Employee Share Schemes - Equity Reward for Private Companies 15.7

Dividend shares

Acquisitions by trustees

Commentary – Tax Reporter ¶468-260

Administration

Commentary – Tax Reporter ¶468-260

Amounts to be carried forward

Commentary – Tax Reporter ¶468-260

Generally

Commentary – Tax Reporter ¶468-260 ; Dalby on Employee Share Schemes - Equity Reward for Private Companies 12.5

Holding period

Commentary – Tax Reporter ¶468-260

Limit

Commentary – Tax Reporter ¶468-260

Records

Commentary – Tax Reporter ¶468-260

Terms of shares

Commentary – Tax Reporter ¶468-260

Eligibility of employees

Requirements

Commentary – Tax Reporter ¶468-100

Time of eligibility to participate

Commentary – Tax Reporter ¶468-100

Eligibility of individuals

Associate, meaning

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 22-24

Employment requirement

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 15

Generally

Legislation/Regulatory – FA2013 Sch. 2, para. 33 ; ITEPA2003 Sch. 2, para. 13

Material interest, meaning

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 20, 21

No material interest requirement

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 19

Non-participation in other relevant share schemes

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 18

Participation in more than one connected plan

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 18A, 71A

Qualifying company

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 17

Qualifying periods

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 16

Successive participation in connected plans

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 18A, 71A

Time of eligibility to participate

Legislation/Regulatory – FA2013 Sch. 2, para. 34 ; ITEPA2003 Sch. 2, para. 14

Eligibility of shares for

Commentary – Dalby on Employee Share Schemes - Equity Reward for Private Companies 15.1.1

Eligible shares

Forfeiture

Commentary – Tax Reporter ¶468-380

Generally

Commentary – Tax Reporter ¶468-280

Listing requirements

Commentary – Tax Reporter ¶468-320

Ordinary share capital

Commentary – Tax Reporter ¶468-300

Pre-emption conditions

Commentary – Tax Reporter ¶468-380

Prohibited companies

Commentary – Tax Reporter ¶468-360

Qualifying time

Commentary – Tax Reporter ¶565-770

Restrictions

Commentary – Tax Reporter ¶468-380

Shares fully paid up

Commentary – Tax Reporter ¶468-340

Voting rights

Commentary – Tax Reporter ¶468-380

EMI (disregarded re)

Commentary – Dalby on Employee Share Schemes - Equity Reward for Private Companies 13.3.2

Employee benefit trust

Commentary – Dalby on Employee Share Schemes - Equity Reward for Private Companies 12.5.2Dalby on Employee Share Schemes - Equity Reward for Private Companies 15.6

Employee interest in shares

Dividend shares

Commentary – Tax Reporter ¶468-000

Free shares

Commentary – Tax Reporter ¶468-000

Matching shares

Commentary – Tax Reporter ¶468-000

Partnership shares

Commentary – Tax Reporter ¶468-000

Employees (eligibility of)

Commentary – Dalby on Employee Share Schemes - Equity Reward for Private Companies 15.1.2

Employees (taxation of)

Commentary – Dalby on Employee Share Schemes - Equity Reward for Private Companies 15.4

Employment requirement

Minimum qualifying period

Commentary – Tax Reporter ¶468-110

Qualifying company

Commentary – Tax Reporter ¶468-110

Establishing the scheme

Commentary – Dalby on Employee Share Schemes - Equity Reward for Private Companies 15.2

Fairness as between participants

No preference for directors or senior employees

Commentary – Tax Reporter ¶468-060

Same terms requirements

Commentary – Tax Reporter ¶468-060

Free shares

Generally

Commentary – Dalby on Employee Share Schemes - Equity Reward for Private Companies 12.5
Legislation/Regulatory – ITEPA2003 Sch. 2, para. 2, 34

Holding period

Commentary – Tax Reporter ¶468-200
Legislation/Regulatory – ITEPA2003 Sch. 2, para. 36, 37

Maximum annual award

Commentary – Tax Reporter ¶468-200
Legislation/Regulatory – ITEPA2003 Sch. 2, para. 35

Performance allowances

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 38-42
HMRC Guidance – SAIM5104

Performance criteria

Commentary – Tax Reporter ¶468-200

Plan requirements to be satisfied

Commentary – Tax Reporter ¶468-200

Further conditions, prohibition

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 11

Generally

Commentary – Tax Reporter ¶464-080 ; Tax Reporter ¶465-540

Group company plans

Commentary – Tax Reporter ¶468-010

Group plans

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 4
HMRC Guidance – SAIM5104

Groups of companies

Commentary – Tax Reporter ¶468-000

Guidance

Commentary – Tax Reporter ¶468-000

Implementation of

Commentary – Dalby on Employee Share Schemes - Equity Reward for Private Companies 15.2.2

Income tax

Award/acquisition of shares, no charge

Legislation/Regulatory – ITEPA2003 s. 490

Cancellation payments in respect of partnership share agreement, charge on

Legislation/Regulatory – ITEPA2003 s. 504

Capital receipt, meaning

Legislation/Regulatory – ITEPA2003 s. 502

Capital receipts in respect of participant's shares

Legislation/Regulatory – ITEPA2003 s. 501

Capital receipts in respect of plan shares

Commentary – Tax Reporter ¶468-540

Cash dividend retained and then later paid out

Legislation/Regulatory – ITTOIA2005 s. 393, 396
HMRC Guidance – IHTM28155

Cash dividend retained for reinvestment

Legislation/Regulatory – ITEPA2003 s. 496

Charge

Legislation/Regulatory – ITTOIA2005 s. 392, 396
HMRC Guidance – SAIM5080

Disposal of beneficial interest during holding period

Commentary – Tax Reporter ¶468-580

Disposal of beneficial interest during holding period, charge on

Legislation/Regulatory – ITEPA2003 s. 507

Dividend shares acquired on behalf of participant

Legislation/Regulatory – ITEPA2003 s. 493(3), (3A), (5) ; ITTOIA2005 s. 770
HMRC Guidance – SAIM5080

Dividend shares ceasing to be subject to plan, charge on

Legislation/Regulatory – ITTOIA2005 s. 394, 395, 396

Dividends

Commentary – Tax Reporter ¶468-620

Eligible employment

Commentary – Tax Reporter ¶468-530

Exception from charge

Commentary – Tax Reporter ¶468-560

Free or matching shares

Commentary – Tax Reporter ¶468-560

Free or matching shares ceasing to be subject to plan

Legislation/Regulatory – ITEPA2003 s. 505

Generally

Commentary – Tax Reporter ¶468-500

Holding of shares

Commentary – Tax Reporter ¶468-540

Incidental expenditure

Legislation/Regulatory – ITEPA2003 s. 499

Indication of shares

Commentary – Tax Reporter ¶468-550

Market value

Commentary – Tax Reporter ¶468-500

Operation of tax advantages

Legislation/Regulatory – ITEPA2003 s. 489, 500

Other income tax matters

Commentary – Tax Reporter ¶468-600

Partnership share agreement, charge on cancellation payments

Legislation/Regulatory – ITEPA2003 s. 504

Partnership share money deducted from salary

Legislation/Regulatory – ITEPA2003 s. 492

Partnership share money paid over to employee

Commentary – Tax Reporter ¶468-540

Partnership share money paid over to employees, charge on

Legislation/Regulatory – ITEPA2003 s. 503

Partnership shares ceasing to be subject to plan

Commentary – Tax Reporter ¶468-570

Partnership shares ceasing to be subject to plan, charge on

Legislation/Regulatory – ITEPA2003 s. 506

Shares ceasing to be subject to plan

Commentary – Tax Reporter ¶468-550

Shares ceasing to be subject to plan, free or matching shares

Legislation/Regulatory – ITEPA2003 s. 505

Shares ceasing to be subject to plan, good leavers

Legislation/Regulatory – FA2013 Sch. 2, para. 19 ; ITEPA2003 s. 498(3)-(12)

Shares ceasing to be subject to plan, identification

Legislation/Regulatory – ITEPA2003 s. 508
HMRC Guidance – NIM06826

Shares ceasing to be subject to plan, limitations on charges

Legislation/Regulatory – ITEPA2003 s. 497

Shares ceasing to be subject to plan, no charge on

Legislation/Regulatory – FA2013 Sch. 2, para. 2, 19 ; ITEPA2003 s. 498

Shares ceasing to be subject to plan, partnership shares

Legislation/Regulatory – ITEPA2003 s. 506

Shares ceasing to be subject to plan, retirement of participants

Legislation/Regulatory – FA2013 Sch. 2, para. 1-6

Ineligible shares

Commentary – Dalby on Employee Share Schemes - Equity Reward for Private Companies 15.1.1

Information, power to require

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 93

Jointly owned companies

Commentary – Tax Reporter ¶468-010
Legislation/Regulatory – ITEPA2003 Sch. 2, para. 91

Leavers, treatment of

Commentary – Dalby on Employee Share Schemes - Equity Reward for Private Companies 9.4.1Dalby on Employee Share Schemes - Equity Reward for Private Companies 15.3.6

Legislation

Commentary – Tax Reporter ¶468-000

Loan arrangements

Commentary – Tax Reporter ¶468-080

Loan arrangements, prohibition

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 12

Making awards

Commentary – Dalby on Employee Share Schemes - Equity Reward for Private Companies 15.2.3Dalby on Employee Share Schemes - Equity Reward for Private Companies 15.3

Market value, determination

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 92

Matching shares

General requirements

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 59

Generally

Commentary – Tax Reporter ¶468-240 ; Dalby on Employee Share Schemes - Equity Reward for Private Companies 12.5
Legislation/Regulatory – ITEPA2003 Sch. 2, para. 3, 58-61

Holding period

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 61

Ratio of matching shares to partnership shares

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 60

Material interest

Generally

Legislation/Regulatory – ITEPA2003 Sch. 7, para. 87

Meaning

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 20

Options and interests

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 21

Maximum annual awards

Legislation/Regulatory – FA2014 s. 49, 50

Meaning

Legislation/Regulatory – ITEPA2003 s. 488(4), Sch. 2, para. 2

No conditions

Commentary – Tax Reporter ¶468-070

No material interest

Associates

Commentary – Tax Reporter ¶468-140

Employees with options over shares

Commentary – Tax Reporter ¶468-140

Not to participate

Connected company

Commentary – Tax Reporter ¶468-120

Participant ceasing to be in relevant employment, meaning

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 95

Participant, meaning

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 5

Participation on same terms

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 9

Partnership shares

Access to

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 57

Accumulation period, plan with/without

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 50, 51

Agreements

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 44
HMRC Guidance – SAIM5104

Agreements and deductions from salary

Commentary – Tax Reporter ¶468-220

Application of funds

Commentary – Tax Reporter ¶468-220

Cessation of deductions

Commentary – Tax Reporter ¶468-220

Deductions from salary

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 45
HMRC Guidance – SAIM5104

Effect on benefits

Legislation/Regulatory – SI 2000/2090

Generally

Commentary – Tax Reporter ¶468-220 ; Dalby on Employee Share Schemes - Equity Reward for Private Companies 12.5Dalby on Employee Share Schemes - Equity Reward for Private Companies 15.3.2
Legislation/Regulatory – FA2013 Sch. 2, para. 78-80 ; ITEPA2003 Sch. 2, para. 2, 43
HMRC Guidance – SAIM5104

Maximum amount of deductions

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 46, 47
HMRC Guidance – SAIM5104

Maximum deduction

Commentary – Tax Reporter ¶468-220

Money deducted in accumulation period

Legislation/Regulatory – FA2013 Sch. 2, para. 78 ; ITEPA2003 Sch. 2, para. 52

National minimum wage, impact on

Commentary – Tax Reporter ¶468-220

Notice of effect of deductions on benefit entitlement

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 48
HMRC Guidance – SAIM5104

Repayment of share money on withdrawal of approval or termination

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 56

Repayment on withdrawal of approval or termination

Commentary – Tax Reporter ¶468-220

Restriction on number of shares awarded

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 53

Share money held for employees

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 49
HMRC Guidance – SAIM5104

Social security benefits, impact on

Commentary – Tax Reporter ¶468-220

Statutory sick pay and statutory maternity pay, effect on

Legislation/Regulatory – SI 2000/2090

Stopping and re-starting deductions

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 54

Variable awards

Commentary – Tax Reporter ¶468-220

Withdrawal from agreement

Commentary – Tax Reporter ¶468-220
Legislation/Regulatory – ITEPA2003 Sch. 2, para. 55

PAYE

Capital receipts

Legislation/Regulatory – ITEPA2003 s. 513, 514

Deductions by trustees on shares ceasing to be subject to plan

Legislation/Regulatory – ITEPA2003 s. 511, 512

Disposal of beneficial interest by participant

Legislation/Regulatory – ITEPA2003 s. 512

Payments by trustees to employer company on shares ceasing to be subject to plan

Legislation/Regulatory – ITEPA2003 s. 510, 512

Shares ceasing to be subject to plan

Legislation/Regulatory – ITEPA2003 s. 509

PAYE and NIC

Commentary – Dalby on Employee Share Schemes - Equity Reward for Private Companies 15.4.1

Performance conditions

Commentary – Dalby on Employee Share Schemes - Equity Reward for Private Companies 15.3.5

Private companies

Commentary – Dalby on Employee Share Schemes - Equity Reward for Private Companies 12.6

Public companies

Commentary – Dalby on Employee Share Schemes - Equity Reward for Private Companies 9.2.3

Purpose of

Commentary – Tax Reporter ¶468-040

Purpose of plan

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 7

Purpose of the plan

Commentary – Tax Reporter ¶468-000

Receipts

Legislation/Regulatory – CTA2009 s. 986
HMRC Guidance – BIM100190 ; CFM97140

Reinvestment of cash dividends

Acquisition of dividend shares

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 66

Amounts to be carried forward

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 68

General requirement for dividend shares

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 65

Generally

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 62

Holding period for dividend shares

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 67

No requirement to reinvest

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 69

Requirements to be met

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 63

Reporting

Commentary – Dalby on Employee Share Schemes - Equity Reward for Private Companies 8.1.4Dalby on Employee Share Schemes - Equity Reward for Private Companies 15.9

Restricted shares

Legislation/Regulatory – FA2013 Sch. 2, para. 45-57

Rights issues, treatment of shares acquired under

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 88

Roll-over relief

Chargeable assets in the form of shares

Legislation/Regulatory – TCGA92 Sch. 7C, para. 7

Chargeable assets, meaning

Legislation/Regulatory – TCGA92 Sch. 7C, para. 8

Claims for relief

Legislation/Regulatory – TCGA92 Sch. 7C, para. 5

Conditions relating to disposal

Legislation/Regulatory – TCGA92 Sch. 7C, para. 2, 4

Dwelling-houses

Legislation/Regulatory – TCGA92 Sch. 7C, para. 6

Generally

Legislation/Regulatory – TCGA92 s. 236A, Sch. 7C

Reinvestment of disposal proceeds

Legislation/Regulatory – TCGA92 Sch. 7C, para. 3, 4

Scheme requirements

Commentary – Dalby on Employee Share Schemes - Equity Reward for Private Companies 15.2.1

Service companies

Commentary – Dalby on Employee Share Schemes - Equity Reward for Private Companies 15.1.1

Shares withdrawn or ceasing to be subject to plan, meaning

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 96, 97

Single company plans

Commentary – Tax Reporter ¶468-010

SIP code, meaning

Legislation/Regulatory – ITEPA2003 s. 488(3)

Stamp taxes (exemption from)

Commentary – Dalby on Employee Share Schemes - Equity Reward for Private Companies 15.5.5

Successive participation

Commentary – Tax Reporter ¶468-130

Tax advantage, detail of/no charge

Acquisition of dividend shares

Commentary – Tax Reporter ¶468-520

Award or acquisition of shares

Commentary – Tax Reporter ¶468-520

Cash dividend retained for investment

Commentary – Tax Reporter ¶468-520

Incidental expenditure

Commentary – Tax Reporter ¶468-520

Limitations on charges, or no charges, on shares ceasing to be subject to plan

Commentary – Tax Reporter ¶468-520

Partnership share money deducted from salary

Commentary – Tax Reporter ¶468-520

Tax advantages

Commentary – Tax Reporter ¶468-510

Tax relief for costs of establishing scheme

Commentary – Dalby on Employee Share Schemes - Equity Reward for Private Companies 15.5.1

Tax treatment of

Commentary – Dalby on Employee Share Schemes - Equity Reward for Private Companies 12.5

Termination of plan

Effect of notice

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 90

Generally

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 89

Terms of offer

Commentary – Dalby on Employee Share Schemes - Equity Reward for Private Companies 15.3.1

Transfers from employees share ownership trusts

Legislation/Regulatory – FA2000 s. 55(1)

Transfers under

Legislation/Regulatory – FA2001 s. 95

Transitional provisions and savings

Legislation/Regulatory – ITEPA2003 Sch. 7, para. 68-70

Trustees

Acquisition of shares from employees share ownership trusts

Legislation/Regulatory – FA2013 Sch. 2, para. 92

Borrowing, power to

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 76

Duties

Commentary – Tax Reporter ¶468-420
Legislation/Regulatory – FA2013 Sch. 2, para. 79 ; ITEPA2003 Sch. 2, para. 72-75

Establishment of

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 71

Generally

Commentary – Tax Reporter ¶468-400
Legislation/Regulatory – FA2013 Sch. 2, para. 91 ; ITA2007 s. 488-490 ; ITEPA2003 Sch. 2, para. 70

Income

Legislation/Regulatory – ITA2007 s. 488-490, Sch. 2, para. 103

Notice of award of shares

Commentary – Tax Reporter ¶468-420

PAYE obligations

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 79

Raising funds to subscribe for rights issues, power to

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 77

Records

Commentary – Tax Reporter ¶468-420

Tax liabilities, duties

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 80

Types of shares

Fully paid up and not redeemable

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 28

Listing etc.

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 27

Ordinary share capital

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 26

Prohibited shares

Legislation/Regulatory – ITEPA2003 Sch. 2, para. 29

Restricted shares

Legislation/Regulatory – FA2013 Sch. 2, para. 45-57

Types of tax-advantaged shares

Commentary – Tax Reporter ¶468-020 ; Tax Reporter ¶468-180

Unit trust schemes

Legislation/Regulatory – SI 1988/266 ; SI 1988/267