Unapproved Share Option PlanEmployee share option plans are designed and established to meet different corporate objectives. Where those objectives cannot be cannot be achieved under an H M Revenue & Customs approved Company Share Option Plan an unapproved share option plan may be appropriate. RequirementsThe conditions set out in the tax legislation regarding the types of shares which may be used, the company that may establish the plan, limits on number of shares etc. do not apply. Other regulatory requirements such as the Companies Act, the Financial Services Act and in appropriate cases guidelines of the various investment committees of institutional investors and the listing rules of the Stock Exchange should be observed. Tax TreatmentAs the plan does not conform with the requirements of the relevant tax legislation no special tax reliefs will be available. In certain circumstances no NIC will be payable. Benefits
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