Income and Corporation Taxes Act 1988

Yn ddilys o 31/07/1998

[F1140G Information for the purposes of sections 140A to 140F.U.K.

(1)Where—

(a)any person provides any individual with an interest in shares which is only conditional, and

(b)the circumstances are such that—

(i)the acquisition of that interest by that individual,

(ii)its subsequently ceasing to be only conditional,

(iii)its subsequent disposal, or

(iv)the death of the individual,

gives rise or may give rise to a charge under section 140A on that individual,

each of the relevant persons shall deliver to an officer of the Board particulars in writing of the interest and its provision.

(2)Where—

(a)a person has an interest in any shares which is only conditional,

(b)those shares cease to be shares in which that person’s interest is only conditional or are disposed of or that person dies, and

(c)that event gives rise to a charge under section 140A(4),

each of the relevant persons shall deliver to an officer of the Board particulars in writing of the shares and the event.

(3)Where—

(a)any person has provided any individual with any convertible shares in a company,

(b)those shares are subsequently converted into shares of a different class, and

(c)the circumstances are such that the conversion gives rise or may give rise to a charge under section 140D on that individual,

each of the relevant persons shall deliver to an officer of the Board particulars in writing of the shares and their conversion.

(4)For the purposes of this section the relevant persons are—

(a)the person who is providing, or who provided, the shares in question; and

(b)the person under or with whom the office or employment is or was held by reference to which the charge may arise or has arisen.

(5)Particulars required to be delivered under this section must be delivered no later than thirty days after the end of the year of assessment in which the interest is provided, the event occurs or the conversion takes place.

(6)Expressions used in this section and in section 140A or 140D above have the same meanings in this section as in section 140A or, as the case may be, section 140D.]

Textual Amendments