Taxes Consolidation Act 1997 Schedule 12 paragraph 4

Right of appeal against refusal of approval

Schedule 12 paragraph 4 provides a founding company with a right of appeal to the Appeal Commissioners where the Revenue Commissioners refuse or withdraw approval of an Employee Share Ownership Trust (ESOT).

• A founding company may appeal a Revenue decision to refuse approval of an ESOT, to refuse approval of an alteration to the trust terms, or to withdraw approval of an ESOT.
• The appeal must be made to the Appeal Commissioners in accordance with section 949I within 30 days of the date of the notice of the decision.
• The Appeal Commissioners hear and determine the appeal in the same manner as an appeal against an income tax assessment.
• The appellant has further rights of rehearing by a Circuit Court Judge and of having a case stated for the opinion of the High Court on a point of law.