CG61972 - Roll-over relief on transfer of shares to a Share Incentive Plan: the conditions for the relief

»Ê¹ÚÌåÓýappre are various conditions which must be satisfied before any relief is due. »Ê¹ÚÌåÓýappse are set out below and you will find more information in the guidance referred to. To qualify for relief:

  • the person disposing of the shares cannot be a company
  • the disposal must be to the trustees of a Share Incentive Plan as defined by ITEPA03/SCH2, see BIM44251
  • the disposal must be of unlisted shares that may be held in a Share Incentive Plan, see CG61973
  • the trustees must have a minimum stake of 10% in the company in a specified period, see CG61974
  • there must be no arrangements under which the vendor can reacquire any of the shares, except as a participant in the approved Share Incentive Plan, see CG61975.
  • the person disposing of the shares must acquire replacement assets within a specified period, see CG61976

An Share Incentive Plan is a plan within ITEPA03/SCH2. If you are unsure whether a given plan qualifies under that legislation, you should contact the IPD Technical Team before agreeing that any relief is due.