Roger Mullin – 2016 Parliamentary Question to the HM Treasury
The below Parliamentary question was asked by Roger Mullin on 2016-03-24.
To ask Mr Chancellor of the Exchequer, what assessment he has made of the potential effect on the productivity of small and medium-sized businesses of the planned withdrawal of HM Revenue and Customs’ evaluation check services.
Mr David Gauke
No impact on UK productivity is anticipated. HM Revenue and Customs (HMRC) has not withdrawn valuation services that are most relevant to small and medium sized enterprises including Enterprise Management Incentives (EMI), Company Share Option Plans (CSOP), Save As You Earn share option schemes (SAYE), Share Incentive Plans (SIP) and Employee Shareholder Status (ESS).
HMRC has, however, announced a review of the valuation services for those schemes and is consulting interested parties.
HMRC has withdrawn valuation checks for income tax and PAYE that are not part of these recognized employee ownership schemes. Most people submitted acceptable valuations and therefore the valuation service was not seen as needed.
