Hi All,
Has anyone recently had to look at a situation where shares are distributed from a discretionary trust to an employee of the company, or shares are distributed by way of s144 IHTA 1984 (which doesn’t apply for Income Tax) to an employee?
The question is do the Employee Related Securities rules apply or is the exemption under s421B(3) ITEPA 2003 available? The problem is that the exemption is where an individual provides the shares/right/opportunity and here it is being provided by the trustees of the trust, and I am unclear whether or not it is possible to go back to the individual who has died and set up the trust.
Many thanks