Note of a meeting with the Inland Revenue on 19 June 1997. Considers:
- Profit Sharing Schemes – operation of PSS with cash payments, Inland Revenue practice in dealing with CREST share holdings and completion of tax returns;
- QUESTs – appointment of trustees, Inland Revenue clearance procedure, number of QUESTs established and qualification as “persons elected to represent the employees;
- Approved CSOP – clause for the collection of PAYE on exercise and provisions in the rules relating to amendment of Approved CSOP;
- Shares acquired at undervalue or as a gift – application of section 165 ICTA 1988;
- Valuation of shares in an unquoted company;
- Savings Related Share Option Schemes – shares ceasing to satisfy requirements in Schedule 9, ICTA 1988.