Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what meetings or consultations his Department had with companies and industry groups offering and promoting employee share ownership schemes before announcing the withdrawal of HM Revenue and Customs' valuation check service in February 2016.

HM Revenue and Customs (HMRC) has been consulting representative bodies through the Valuation Fiscal Forum over the last 18 months.

HMRC has not withdrawn valuation services that are most relevant to employee share ownership schemes but has withdrawn valuation checks for income tax and PAYE as in most cases acceptable valuations were submitted and therefore, on a cost-benefit analysis, continuation of the service could no longer be justified.

As HMRC has not withdrawn valuation services that are most relevant to employee share ownership schemes it is not intended to commission independent research on the potential effect of those valuation services being withdrawn.

HMRC does not plan to withdraw the valuation check service for Chattels. Procedures remain unchanged from those outlined at the Chattels Valuation Fiscal Forum 2010 and, most recently, 2014.