§ Mr. GouldTo ask the Chancellor of the Exchequer if the tax regime applicable in the case of share subscriptions is generally applied in the case of all employee share schemes, whereby income tax is payable on the difference between the discounted and market prices.
§ Mr. Norman LamontSubject to certain qualifying conditions, employees acquiring shares through employee share schemes approved by the Inland Revenue (under legislation originally contained in the Finance Acts of 1978, 1980 and 1984) are exempt from the income tax liability which normally arises where shares are acquired below market value by reason of employment.