Taxes Consolidation Act 1997 Schedule 11 paragraph 15

Notification of appropriation of shares to participants

Paragraph 15 of Schedule 11 requires the trust instrument to provide that trustees must notify participants in writing when shares have been appropriated to them.

• The trust instrument must include a requirement for written notification to participants following the appropriation of shares.
• The notice must be given as soon as practicable after the shares have been appropriated.
• The notice must specify the number and description of the shares appropriated.
• The notice must also state the initial market value of those shares.