Schedule 21 - Approved share plans and schemes
Finance Bill
11:00 am
Ms Dawn Primarolo (Paymaster General, HM Treasury; Bristol South, Labour)
The information that I have been given by the Inland Revenue is that, in 1997–98, approximately 40 per cent. of company share option plans options fell into the category of trying to exercise within three years that I have described. In 2000–01 the figure had risen to 60 per cent. That means that in 2000–01 about 16,500 company share options were exercised within the three years of grant without national insurance and PAYE being paid. That cannot be allowed to continue.