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HMRC internal manual

Employee Tax Advantaged Share Scheme User Manual

Schedule 2 share incentive plan (SIP): Types of award: Free shares: Introduction

Free shares are eligible shares which are awarded (or ‘appropriated’) to employees under a Schedule 2 SIP without payment (paragraphs 2 and 5). Free shares must be awarded to all participating employees on the same terms (see ETASSUM21070) unless performance allowances are used. See ETASSUM24150 onwards.