What happens if a group company administers the scheme but the employees belong to subsidiaries?
A. You will need to identify all the employing subsidiaries likely to use the joint election and submit their details with the application. This will ensure the Notice of Approval extends to all employers within the group. If the joint election is to cover an additional subsidiary at a later date, the employer will need to advise HMRC accordingly so that we can extend the Approval to cover the new subsidiary. The election approval will not be valid for options/ securities awarded by this additional subsidiary until HMRC has granted an extension to the approval applying to that subsidiary.
Related Questions
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- What happens if a group company administers the scheme but the employees belong to subsidiaries?
