Share Scheme Manual - SSM7.6

Unlisted companies

(previously SE2878)

Where directors or employees acquire unlisted shares, or options over unlisted shares, it will be necessary to check any values put forward in the SA return or by the employer, including estimates. Shares Valuation Division will provide advice on whether the value put forward can be accepted, or whether a formal valuation of the shares will be needed.

If the shares or options are acquired under a formal share scheme the returns district should

• obtain the scheme documents, (see SSM7.5, and

• sent them with form P389 to the Employee Share Schemes Unit.

The Employee Share Schemes Unit will ask Shares Valuation Division to check the share value who will advise the returns district so that you can check the amounts chargeable to tax under Schedule E.