Employee share schemes in quoted companies

Produced by a Tolley Employment Tax expert

Employment Tax

Guidance

What is a quoted company?

A reference to a quoted company is usually to a company where the company’s shares are listed on the London Stock Exchange (LSE), the Alternative Investment Market (AIM), The International Stock Exchange (TISE, formerly Channel Islands Stock Exchange) or another overseas stock exchange.

What is the difference for options granted over shares in a quoted company?

Quoted companies are generally subject to additional legislation, codes or rules compared to private companies or unquoted public companies. These include the Listing Rules published by the FCA, the AIM Rules, UK Corporate Governance Code, the QCA Corporate Governance Code and the Investment Association (IA) Principles of Remuneration.

For UK tax purposes, ‘quoted’ is not analogous to HMRC’s definition of Recognised Stock Exchange (RSE) or the definition of Recognised Investment Exchange (RIE) used within the PAYE legislations.

Companies listed on the LSE (whether a standard or premium listing) and other RSE’s are often referred to as fully listed.

When can employee share rights be granted, exercised or released?

There are restrictions on

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