Commentary

E1.565 Interest under employee share schemes

Personal and employment tax

E1.565 Interest under employee share schemes

E1.565 Interest under employee share schemes

An exemption from income tax is available in respect of interest relating to trustees of certain employee share schemes. The exemption applies where a scheme is set up to comply with the Companies Act 2006, s 682(2)(b), which covers financial assistance for the purposes of employee share schemes and under the scheme the trustees receive interest from a participant in the scheme1. To the extent that the scheme requires the trustees to pay to the company an equivalent amount of interest, no liability to income tax arises in respect of the

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