Q&As

Does a Share Incentive Plan trust have to be registered with HMRC’s online Trust Registration Service?

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Published on LexisPSL on 18/03/2021

The following Share Incentives Q&A provides comprehensive and up to date legal information covering:

  • Does a Share Incentive Plan trust have to be registered with HMRC’s online Trust Registration Service?

Does a Share Incentive Plan trust have to be registered with HMRC’s online Trust Registration Service?

A Schedule 2 Share Incentive Plan (SIP) must provide for the setting up of a trust to hold plan shares. The SIP legislation sets out various requirements for this trust, and the duties and responsibilities of its trustees. For further details, see Practice Note: SIPs—requirements relating to the trust and the trustee.

As a result of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, SI 2017/692 (MLR 2017), trusts where the trustees have incurred

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