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HMRC internal manual

PAYE Manual

Employer records: set up employer record: approved profit sharing schemes (APSS)

Approved Profit Sharing Schemes (APSS) were abolished in 2000. No new APSS were approved after 5 April 2001 and awards under existing schemes ceased on 31 December 2002. However, employees may continue to hold tax advantaged shares from past appropriations but it is highly unlikely that there will be any PAYE obligations in relation to shares appropriated and held in the APSS trust.