Version Superseded: 21/07/2008
Point in time view as at 01/09/2003. This version of this provision has been superseded.
Income Tax (Earnings and Pensions) Act 2003, Section 418 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.
(1)In Part 3—
Chapter 1 (earnings), and
Chapter 10 (taxable benefits: residual liability to charge),
may also have effect in relation to securities and interests in securities (but not securities options).
(2)Part 7 of Schedule 7 (transitional provisions relating to securities and securities options) may also be relevant.
(3)In view of section 49 of FA 2000 (phasing out of APS schemes) the following are not rewritten in this Act and continue in force unaffected by the repeals made by this Act—
section 186 of ICTA (APS schemes) and section 187 of that Act (interpretation) so far as relating to APS schemes, and
Schedule 9 to ICTA (approval of share schemes) so far as relating to APS schemes and Schedule 10 to that Act (further provisions about APS schemes).
“APS schemes” means profit sharing schemes approved under Schedule 9 to ICTA.
(4)Sections 138 to 140 of ICTA (share acquisitions by directors and employees) continue to apply in relation to shares or interests in shares acquired before 26th October 1987 (see paragraph 57 of Schedule 7).]
Textual Amendments
F1Pt. 7 Ch. 1 substituted (with effect in accordance with Sch. 22 para. 2(2) of the amending Act) by Finance Act 2003 (c. 14), Sch. 22 para. 2(1)
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