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Company sale: more than one value for employee shares?

Question

 
A company received an offer to purchase it and the directors minded to accept entered into a non-disclosure agreement (NDA). Shares in an employee trust were issued to employees prior to acceptance. A post-transaction valuation check has commenced using a single heavily discounted value for all employees to determine the employment income charge. HMRC is saying that there may be more than one value and that it is entitled to have a copy of the non-disclosure agreement (NDA). Is HMRC right: is there more than one value; and do we have to disclose the NDA?
 

Answer

 
Multiple values?
 
It is presumed that all the shareholdings in question were uninfluential minority ones.The possibility of more than one value depends upon the circumstances. If the...

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