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TCGA92/S236J(1)(a) and (2)

The ‘equality requirement� is that the trusts of the settlement do not permit any of the settled property to be applied, at any time, otherwise than for the benefit of all the ‘eligible employees� on the same terms.

The term ‘eligible employees� is explained at CG67838, with further guidance at CG67839.

There are certain situations in which the ‘equality requirement� will not be infringed by trusts that do not meet its strict terms. For more detailed guidance on this subject see CG67840.

TCGA92/S236K(7) and (8)

For the purposes of the ‘equality requirement� references to settled property and ‘eligible employee� should be interpreted in the same way as they are for the ‘all-employee benefit requirement� as a whole.