The government intends to legislate for self-certification of the three types of employee share scheme which currently require prior HMRC approval. Practitioners should accept this as a fait accompli and concentrate their energies on lobbying for effective protections for companies, their employees and their advisers.
On 27 June 2012 HMRC published a consultation document in response to the Office of Tax Simplification’s report on tax-advantaged employee share schemes.
The most significant OTS recommendation which the government has accepted is that a company establishing an approved company share option plan SAYE option plan or share incentive plan should no longer need to obtain prior HMRC approval.
The consultation period runs until 18 September 2012 and self-certification will come into effect no later...
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