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Office of tax simplification – now surveying companies using unapproved share schemes

The Office of Tax Simplification (OTS) has now launched a survey for the purpose of gathering first hand evidence from companies using unapproved share schemes.

 
PRLog - May 25, 2012 - Unlike tax-advantaged schemes, unapproved arrangements take a wide variety of forms and are used in widely differing circumstances, for example unapproved share options, growth shares, nil or partly paid shares, free shares.

Since HMRC does not have detailed records of how these arrangements operate in practice, OTS has decided that, as a first step, it should invite companies using unapproved share schemes to provide information about the way in which the schemes are used.  There will also be an opportunity to give feedback as to how the tax rules on unapproved share schemes may be simplified.

The survey is now available on the OTS website and can be accessed via the following link:
http://www.hm-treasury.gov.uk/ots_essreview.htm.

Alternatively, the direct link to the survey is: http://freeonlinesurveys.com/rendersurvey.asp?sid=khh5906...

OTS estimates that completion of the survey should take no more than 20 minutes.


OTS has requested responses by Friday 8 June, so the timing is tight if you wish to record your evidence.



The OTS has previously run a survey which looked at how the rules relating to approved share schemes (EMI options, approved (CSOP) options, Share Incentive Plans (SIPs) and SAYE options) may be simplified, and which made several recommendations.

News release ends, 24 May 2012.
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Note for Editors:
POSTLETHWAITE is a law firm which provides specialist advice on employee share schemes, employee share ownership and majority employee ownership, including EMI share options, approved options, long term incentive plans, Share Incentive Plans (SIPs), ownership by employee trusts and a wide variety of other share schemes.  We look after clients from all parts of the UK, with a particular focus on smaller listed and private companies.  

For further information concerning employee ownership and employee share incentives, please contact Robert Postlethwaite on 020 7470 8805 11-15 Betterton Street London WC2H 9BP

rmp@postlethwaiteco.com

www.postlethwaiteco.com



Authorised and regulated by the Solicitors Regulation Authority, number 385417

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