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GLOSSARY
Share Incentive Plans or SIPs definition
Published by a LexisNexis Corporate expert
What does Share Incentive Plans or SIPs mean?
A tax-advantaged share plan that is intended to provide employees of both listed and unlisted companies with an opportunity to acquire shares (in contrast to options over shares) in their employer (or its parent). The shares acquired are held beneficially for employees by the trustee of a UK resident trust (SIP Trustee). A SIP must satisfy the conditions set out in ITEPA 2003, Sch 2 in order to qualify for the relevant tax advantages.
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