Income Tax (Earnings and Pensions) Act 2003 (c. 1)

SCHEDULES

SCHEDULE 2 U.K. F1 ... share incentive plans

Textual Amendments

F1 Word in Sch. 2 title omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 14, 89 (with Sch. 8 paras. 90-96)

Part 3 U.K. Eligibility of individuals

[F2 Participation in more than one connected SIP in a tax year U.K.

Textual Amendments

F2 Sch. 2 para. 18A and cross-heading inserted (10.7.2003) by Finance Act 2003 (c. 14), Sch. 21 para. 2

18A (1) The plan must provide that, if an individual participates in an award of shares under the plan in a tax year in which he has already participated in an award of shares under one or more other [F3 Schedule 2] SIPs established by the company or a connected company— U.K.

(a) paragraph 35 (maximum annual award of free shares),

(b) paragraph 46 (maximum amount of partnership share money deductions), and (c)paragraph 64 (limit on amount reinvested), apply as if the plan and the other plan or plans were a single plan.

(2) In this paragraph “connected company” has the same meaning as in paragraph 18.]

Textual Amendments

F3 Words in Sch. 2 para. 18A(1) substituted (6.4.2014) by Finance Act 2014 (c. 26), Sch. 8 paras. 21, 89 (with Sch. 8 paras. 90-96)