§ Mr. BercowTo ask the Chancellor of the Exchequer how much money was raised in the last financial year from penalties imposed on firms where employees have cashed in employee share ownership schemes too early. [14442]
§ Ruth KellyNo penalties are imposed on firms, but employees may be liable to tax and national insurance contributions on shares granted under the share incentive plan if they withdraw from the plan early. Returns have only just been received from companies reflecting their first year's operation of the plan, so it is too early to estimate the amounts which may be involved.