The tax advantages of Employee Shareholder Shares have been abolished for arrangements entered into on or after 1 December 2016. This means that ESS will no longer be available to any employees who are not already within the seven day “cooling off” period. Any companies whose employees have taken independent legal advice and are still in the cooling off period will need to ensure that the agreements are entered into and the shares issued no later than 30 November 2016. This does not impact on any ESS shares that have already been issued.