TSEM5405 - Trusts for particular purposes: employment-related trusts: approved profit sharing schemes - action in trust office
Employee Share Scheme Unit
Refer to Capital and Savings, Employee Share Scheme Unit (ESSU), New Wing, Somerset House
- profit sharing schemes involving shares
- applications for approval (SSM2.3)
If ESSU approves the Scheme they will send the trust office notification, referring you to this instruction.
Action in trust office
When you receive notification from ESSU that a scheme has been approved
- set the case up in the normal way (TSEM1410).
- Send ESSU, New Wing, Somerset House a note of the reference number.
- ESSU issue a special return (form 30) for such a Scheme. But, as this only provides information for that Office, you should note the record for the issue of annual Self-Assessment returns.
- Review returns in the normal way.
- Make any repayment under S186 (11) ICTA 1988. See TSEM5410.
- Refer any doubt or dispute on the trustees’ taxation to HMRC Trusts - Head Office Edinburgh.
