Revenue has published updated guidance on the Keep Employee Engagement Programme (KEEP) clarifying that the limits applicable to a qualifying share option must be met at the time the option is granted. The Institute, under the auspices of CCAB-I, had sought this clarification through the TALC Direct and Capital Taxes subcommittee, and welcomes the confirmation in the updated guidance.
The limits outlined in the definition of qualifying share option confirm that the total market value of the share options which may be granted to any one employee/director cannot exceed €100,000 in any one year of assessment or €300,000 in all years of assessment. The updated guidance confirms in paragraphs 9.3.1 and 9.3.2 that these limits must be satisfied at the date a share option is granted.
Examples 2,3,4 and 11 have also been updated to reflect this clarification.
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