§ The Paymaster General (Dawn Primarolo)The Inland Revenue will publish today an Extra Statutory Concession (ESC) to enable employers of armed forces reservists who participate in an Inland Revenue approved employee share scheme, to take action to maintain the reservist's participation in the scheme, for the period they are away on active service.
The ESC will treat the employment with the Ministry of Defence (MOD) as fulfilling the employment conditions for Inland Revenue approved employee share schemes and Enterprise Management Incentive.
By concession, employers and scheme providers will also be allowed to take such action as is necessary to maintain a reservist's participation in an approved employee share scheme for the period they are away serving with the MOD, and this action will not compromise the approval of the scheme.
The ESC applies from 7 January 2003, the date the first call up order was issued by the Secretary of State for Defence.