Profit-sharing schemes
The Income Tax Act 1938 Chap 75:01, s 35, sets out the legislation in respect of shares allocated to employees through a profit-sharing scheme.
Where distribution is made through an approved employees' profit-sharing plan, PAYE Income Tax may be deferred up to five years, providing the shares continue to be held by the trustee of the scheme.
Subsequent to the five years ending, PAYE Income Tax will become payable at the date of transfer from the trustee to the
To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to Tolley+™ Research or register for a free trial
Web page updated on 17 Mar 2025 15:26