§ Mr. Ian TaylorTo ask the Chancellor of the Exchequer how many employees have received shares under qualifying employee share option trusts; and what is the current total value of shares in such trusts.
§ Mr. DorrellThe Inland Revenue may not learn of the establishment of employee share ownership trusts of the kind defined in the Finance Act 1989 until claims for the tax relief provided by the legislation are received. Such claims may be made up to two years after the end of the period of account in which the relevant contributions are made. A return seeking information on the operation of the trust will not be sent out for completion until confirmation that a claim has been allowed has been received centrally. No such confirmations have yet been received.