Income Tax (Earnings and Pensions) Act 2003

417 Scope of Part 7

(1) This Part contains special rules relating to directors or employees who acquire—

(a) shares in companies, or

(b) options relating to such shares,

in connection with their office or employment.

(2) The rules are contained in—

• Chapter 2 (conditional interests in shares),

• Chapter 3 (convertible shares),

• Chapter 4 (post-acquisition benefits from shares),

• Chapter 5 (share options),

• Chapter 6 (approved share incentive plans),

• Chapter 7 (approved SAYE option schemes),

• Chapter 8 (approved CSOP schemes),

• Chapter 9 (enterprise management incentives), and

• Chapter 10 (priority share allocations).

(3) The following make provision for amounts to count as employment income of directors or employees—

• Chapters 2 to 6, and

• Chapter 8.

(4) The following make provision for exemptions and reliefs from income tax—

• Chapter 2, and

• Chapters 5 to 10.

(5) Chapter 11 contains supplementary provisions relating to employee benefit trusts.