Treasury written question – answered at on 19 December 2012.
To ask the Chancellor of the Exchequer, with reference to the Department for Business, Innovation and Skills' consultation on employee owner status, whether employees will be required to have paid market value as defined in sections 272 and 273 of the Taxation of Chargeable Gains Act 1992 for employee ownership shares to qualify for exemption from capital gains tax on disposal.
Employee shareholders will not provide consideration or payment for any shares they receive under the new employment status, other than by entering into the agreement that they will be an employee shareholder. The actual value of that consideration is immaterial.
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