Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Plans definition

What does Plans mean? Describes the set of design and technical documents for a project. In practice, parties use Plans to mean the drawings and related information that describe the works and are relied upon for design, planning, procurement and construction. The term is not generally defined by statute or case law; its scope is fixed by the contract or licence. Plans means all plans, drawings, models, specifications, reports, design documents and any other materials provided by the Licensor for the purposes of the Project, in hard copy or electronic form, including (without limitation) CAD/BIM models, federated models, schedules, surveys, calculations, method statements, datasheets and...

UK CSOP Eligibility: Employment, Full-time Directors, Joint Ventures, Secondments, Material Interest, Close Company and Associate Tests

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Practice notes

Company share option plans (CSOPs)

CSOPs are discretionary share option arrangements that can be offered to all employees, though they are typically applied selectively. If the statutory conditions are met, advantageous tax treatment may follow. The CSOP regime is detailed and prescriptive, requiring compliance at both grant and exercise, including with respect to:

the company that grants the options
the employees who receive the options
the shares placed under option

This Practice Note concentrates on the employee conditions that must be satisfied to qualify for a CSOP grant. These are set out in the context of the income tax relief contained in sections 521–526 of the Income Tax (earnings and Pensions) Act 2003 (ITEPA 2003).

For information on the other conditions, see the Practice Notes:

CSOP—qualifying companies and qualifying shares
CSOP valuations, including CSOP exercise price and CSOP individual limit
CSOP—requirements for the options: performance conditions

For an explanation of the various tax reliefs available to qualifying CSOP options, see: CSOP—income tax and NIC treatment of options and CSOP—CGT...

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Web page updated on 22/05/2026

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