A trust set up by a UK company, under the provisions introduced in 1989, to acquire shares in the company and distribute them to the employees. The company’s payments to the trust are tax-deductible. The trust deed sets out the specified period of employment and all those employees who fulfil the requirements must be included in the class of beneficiaries of the trust. See also employee share ownership plan; Share Incentive Plan; share incentive scheme.
Subjects: Financial Institutions and Services — Accounting.