When an Inspector has obtained agreed values for the securities,
the information should be passed to the employees’ or
directors’ local compliance office to ensure the appropriate
compliance action is taken.
Under SA it may sometimes be necessary to open enquiries
under TMA70/S9A in order to obtain the information needed to
establish the securities’ values. In such cases it is
essential that the accounts Inspector and the compliance office
work together to ensure that the necessary enquiry procedures are
followed.
Where tax arises in a tax-advantaged scheme, valuations will be advised to tax offices either by notices issued by ESSU or via direct access to the Shareschemes database. These valuations will not have been agreed by ESSU, they will be those entered on forms 34, 35 & 39.
