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HMRC internal manual

Trusts, Settlements and Estates Manual

Trusts for particular purposes: employment-related trusts - Share Incentive Plans (SIPs) previously all employee share ownership plans (AESOPS)

Companies may set up a share plan via a trust to acquire shares for the benefit of employees. From 28 July 2000, the company may apply for approval for the share plan under Paragraph 81, Schedule 2 ITEPA 2003, as a ‘share incentive plan‘. Such approval entitles the company and the trust to various tax advantages.