IHTM42923 - Employee benefit trusts: conditions for relief: former employees
Whilst the words 鈥榖y reference to employment鈥� in IHTA84/S86(1)(a) are wide enough to cover former employees, the expression 鈥榚mployed by or holding office with鈥� in IHTA84/S86(3) refers to present employees.
But the word 鈥榗omprises鈥� in IHTA84/S86(3) does not mean 鈥榗onsists solely of鈥�. So, as long as the class of beneficiaries includes all or most of the company鈥檚 current employees, the fact that former employees (and their dependants) are also included will not prevent the trust qualifying under IHTA84/S86.