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Inland Revenue relaxes employee share ownership rules

Inland Revenue will allow employees who have been awarded shares under its new employee share ownership plan to transfer those shares into an Isa under regulations coming into force this week.

Employees will have 90 days to transfer them into tax-free stocks and shares components of an Isa wrapper.

Transfers will be subject to the existing Isa share subscription limits. Investors will not face any Capital Gains Tax if they keep the shares in the wrapper until they sell them.

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