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HMRC internal manual

Shares and Assets Valuation Manual

Liaison with Valuation Office Agency and other offices: Pension Scheme Services (PSS)

There are tax incentives for companies that set up pension funds for their directors, usually also shareholders, and such pension funds may purchase shares in the funding company. However, to obtain full taxation advantages, a fund’s investments have to be approved by Pension Scheme Services (PSS) and, before granting approval, PSS consults SAV as to whether any proposed purchase by the fund trustees of the unquoted company’s shares is at a reasonable price and whether SAV has any objections to the purchase being approved.

  Additional Guidance: SVM150000