§ Mr. DunnTo ask the Chancellor of the Exchequer whether the Inland Revenue will comment on draft employee share ownership trust deeds submitted to it.
538W
§ Mr. MaudeMy predecessor announced in May the introduction of an arrangement under which the Inland Revenue is willing to examine executed employee share ownership trust deeds and to inform the trustees whether in its view the trust meets the qualifying conditions of schedule 5 to the Finance Act 1989. I have now authorised the Inland Revenue also, in the context of its responsibilities for administration of the law relating to employee share ownership schemes, to examine and comment on draft trust deeds submitted to it, so as to assist those seeking to establish qualifying ESOP trusts.