Reliefs: employee-ownership trusts: conditions: the 'all-employee benefit requirement': the 'equality requirement'
TCGA92/S236J(1)(a) and (2)
The ‘equality requirement’ is that the trusts of the settlement do not permit any of the settled property to be applied, at any time, otherwise than for the benefit of all the ‘eligible employees’ on the same terms.
There are certain situations in which the ‘equality requirement’ will not be infringed by trusts that do not meet its strict terms. For more detailed guidance on this subject see CG67840.
TCGA92/S236K(7) and (8)
For the purposes of the ‘equality requirement’ references to settled property and ‘eligible employee’ should be interpreted in the same way as they are for the ‘all-employee benefit requirement’ as a whole.