
Print Options
PrintThe Whole
Act
PrintThe Whole
Schedule
PrintThe Whole
Part
PrintThis
Cross Heading
only
Changes over time for: Cross Heading: Determination of market value of shares


Llinell Amser Newidiadau
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Version Superseded: 18/04/2005
Status:
Point in time view as at 01/09/2003.
Changes to legislation:
Income Tax (Earnings and Pensions) Act 2003, Cross Heading: Determination of market value of shares is up to date with all changes known to be in force on or before 09 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.

Changes to Legislation
Changes and effects yet to be applied by the editorial team are only applicable when viewing the latest version or prospective version of legislation. They are therefore not accessible when viewing legislation as at a specific point in time. To view the ‘Changes to Legislation’ information for this provision return to the latest version view using the options provided in the ‘What Version’ box above.
Determination of market value of sharesU.K.
56(1)This paragraph applies to the determination of the market value of shares for the purposes of the EMI code.U.K.
(2)Unless—
(a)it is agreed between the employer company and the Inland Revenue, or
(b)a reference is made under sub-paragraph (4),
the market value of shares is to be determined by the Inland Revenue.
(3)Where the market value of shares on any date needs to be determined for the purposes of the EMI code, the Inland Revenue and the employer company may agree that it is to be determined by reference to a date or dates, or to the average of the values on a number of dates, stated in the agreement.
(4)At any time before notice of the Inland Revenue’s determination has been given to the employer company, the company may give the Inland Revenue a notice requiring the question of the market value of the shares to be referred to the Commissioners.
(5)Any reference under sub-paragraph (4) must be made—
(a)to the General Commissioners, or
(b)if the applicant so elects (in accordance with section 46(1) of TMA 1970), to the Special Commissioners.
(6)The Commissioners to whom the reference is made must determine it in the same way as an appeal.
Yn ôl i’r brig