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HMRC internal manual

Employment Related Securities Manual

Employment-Related Securities Manual: recent changes

Below are details of the amendments that were published on 6 August 2012 (see the update index for all updates)

Page Details of update
ERSM20000 Additional pages and updated page titles
ERSM20010 Expanded text, stressing primacy of the earnings charge
ERSM20100 Inclusion of Part 7A in other relevant legislation
ERSM20110 Updated list of securities
ERSM20120 Removal of reference to deleted legislation
ERSM20150 Expanded discussion of warrants
ERSM20170 Minor alterations to text
ERSM20185 New page discussing call and put options
ERSM20190 Removal of discussion of phantom share plans, see ERSM20196
ERSM20191 New page discussing Alternative Finance Investment Bonds
ERSM20192 New page discussing forms of Long-Term Investment Plans (LTIPs)
ERSM20193 New page discussing RSUs with dividend equivalents
ERSM20194 New page giving examples of treatment of RSUs
ERSM20195 New page discussing Stock Appreciation Rights (SARs)
ERSM20196 New page discussing phantom share plans
ERSM20197 New page discussing interests in securities
ERSM20200 New text on securities options and HMRC’s power to amend definition of securities
ERSM20205 New page on options used for avoidance
ERSM20210 Expansion, stressing s421B(1) is a factual test
ERSM20220 Removal of inaccurate text on companies controlled by individuals
ERSM20250 Minor tidying up of text
ERSM20280 Clarification of interaction of Chapter 5 and exemption under the 7-year rule
ERSM20290 Minor tidying up of text
ERSM20300 Update for changes in FA 2008
ERSM20350 Update of relevant Equality Act
ERSM20360 Changes to text and layout to clarify the guidance
ERSM20370 Changes to text and layout to clarify and removal of outdated text
ERSM20380 Minor changes to layout
ERSM20390 Minor changes to layout
ERSM20400 Minor clarifications and a cross reference to soon to be published discussion of Grays Timber
ERSM20410 Deletion of duplicated text and a cross reference to the pages on valuation
ERSM20430 Re-ordering and deletion of some text to improve clarity
ERSM20440 Re-ordering of some text to improve clarity
ERSM20450 Additional text on rights issues in respect of restricted securities
ERSM20500 Minor changes to improve clarity
ERSM20540 Minor changes to improve clarity and new text discussing entitlement to acquire shares