Taxes Consolidation Act 1997 Schedule 11 paragraph 13

Individual cannot get shares from multiples schemes

Schedule 11 paragraph 13 prevents an individual from receiving appropriations of shares under more than one approved profit sharing scheme in the same year of assessment, where the schemes are established by the same company or by companies that are connected through control or consortium arrangements.

• An individual is not eligible to have shares appropriated under an approved profit sharing scheme in a year of assessment if shares have already been appropriated to them under another approved scheme in the same year.
• This restriction applies where the other scheme was established by the same company, or by a company that controls or is controlled by the company concerned.
• It also applies where a third company controls both the company concerned and the company that established the other scheme.
• The restriction extends to schemes established by a company that is a member of a consortium owning the company concerned, or by a company partly owned by the company concerned as a member of a consortium.