§ Mr. PearsonTo ask the Chancellor of the Exchequer if he will list the cost to the Exchequer in 1995–96 and the estimates available of likely costs in 1996–97 of(a) profit sharing schemes, (b) save as you earn share option schemes and (c) company share option plans; and 612W if, for each of the above, he will list (i) the number of schemes registered and (ii) the number of people covered by these schemes. [13386]
§ Mr. JackAvailable information is given in the tables.
Estimated cost of tax reliefs1 £ million 1995–96 1996–97 Approved profit sharing schemes 90 110 Approved savings related share option schemes2 180 200 1 Figures are particularly tentative and subject to a wide margin of error. Estimated costs are the effects on tax liabilities for each year, and not the receipts in each year. 2 Excluding cost of tax-free bonus on interest received under SAYE contract.
1995–96 Number of schemes approved in year Estimated number of live schemes at year-end1 Approved profit sharing schemes 43 868 Approved savings related share option schemes 116 1,174 Approved discretionary share option schemes/company share option plans 347 4,339 1 Excludes schemes where no further appropriations/grants of options were thought likely to occur.
1994–95 Number of employees receiving share allocations or to whom options were granted during the year (thousands) Approved profit sharing schemes 640 Approved savings-related share option schemes 550 Company share option plans are not expected to have any costs until 1998–99.
The exact number of employees in each of these schemes cannot be precisely estimated because the available figures show only numbers of employees to whom shares were allocated or options granted in a particular year, and some employees may be allocated shares or granted options in successive years.
Estimates for take-up for 1995–96 are not yet available.