BIM44140 - Measuring the profits (specific rules & practices) - receipts & deductions: specific deductions - employee share schemes: providing shares - accounting periods starting before 1 January 2003: ‘case law’ employee share ownership (ESOP) trusts - summary
The following section gives guidance on deductions for contributions to employee share ownership trusts which are not:
- SIP trusts (set up under Share Incentive Plans approved by HMRC under ITEPA03/SCH2, previously FA00/SCH8), see BIM44045.
- APS trusts (set up under Profit Sharing Schemes approved by HMRC under ICTA88/SCH9), see BIM44060.
- qualifying employee share ownership trusts (QUESTs) (trusts which meet the qualifying conditions in FA89/SCH5), see BIM44065.
These ‘non-qualifying’ trusts are commonly referred to as ‘case law’ employee share ownership (or ESOP) trusts because tax deductions for employers’ contributions to them depend on general tax case law principles.
The guidance in this section covers:
|BIM44145||Case law ESOP trusts||Introduction|
|BIM44150||Case law ESOP trusts||Whether contributions deductible|
|BIM44155||Case law ESOP trusts||Tax cases|
|BIM44160||Case law ESOP trusts||Timing of deductions|
|BIM44165||Case law ESOP trusts||Generally accepted accounting practice|