Reshma Johar provides a helpful checklist in respect of company share option plans.
A company share option plans (CSOP) (ITEPA 2003, Pt 7, Ch 8, Sch 4) is broadly an approved scheme requiring no pre-approval from HMRC. Over the years the scheme rules have been relaxed, so a CSOP could be seen as more attractive to implement.
New changes from 6 April 2023
Two important changes were introduced in F(No 2)A 2023, which have made CSOP share schemes commercially a lot more attractive for companies to use:
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CSOP schemes can now grant over shares with a market value of no more than £60,000.
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The removal of the ‘worth having’ condition, which currently stipulates that the majority of the issued shares of the same class as those included in a CSOP scheme must be&
