Can I award shares to contractors or non-executive directors?

Not under most HMRC tax-advantaged plans, which generally require the participant to be an employee (other working time requirements may also apply for EMI and CSOP).

Where you want to reward consultants, contractors or non-executive directors, a Non-Tax Advantaged share option plan, Growth Share Plan, or a Deferred Share Purchase Plan plan can also be used. These offer complete flexibility over who participates, at the cost of the statutory tax advantages.