- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
(1)Subject to subsections (5) and (6) below, the person acquiring the shares or interest in shares shall be chargeable to tax if he receives a special benefit by virtue of his ownership of or interest in the shares.
(2)A benefit is a “special benefit” for the purposes of subsection (1) above unless—
(a)it is received in respect of all shares of the same class as those which, or an interest in which, the person acquired, and
(b)any of the conditions in subsection (3) below is satisfied.
(3)The conditions referred to in subsection (2) above are—
(a)that when the benefit is received the majority of the company’s shares of the class concerned are held otherwise than by or for the benefit of—
(i)directors or employees of the company,
(ii)an associated company of the company, or
(iii)directors or employees of any such associated company;
(b)that when the benefit is received the company is employee-controlled by virtue of holdings of shares of the class concerned;
(c)that when the benefit is received the company is a subsidiary which is not a dependent subsidiary and its shares are of a single class.
(4)A charge by virtue of this section shall be a charge under Schedule E, for the year of assessment in which the benefit is received, on an amount equal to the value of the benefit.
(5)Subsection (1) above shall apply only if the person receiving the benefit has been a director or employee of—
(a)the company referred to in that subsection, or
(b)(if it is different) the company as a director or employee of which he acquired the shares or interest, or
(c)an associated company of a company within paragraph (a) or (b) above,
at some time during the period of seven years ending with the date on which the benefit is received.
(6)A benefit shall not be chargeable by virtue of this section if it is chargeable to income tax apart from this section.
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Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’.
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