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Changes over time for: Section 446F


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.
Status:
Point in time view as at 13/06/2003.
Changes to legislation:
Income Tax (Earnings and Pensions) Act 2003, Section 446F 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
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[446FAdjustment of market value: conditional interestsU.K.
This
adran has no associated
Nodiadau Esboniadol
(1)This section applies where the market value of an employee’s interest in shares which is only conditional is artificially low immediately after a chargeable event relating to the shares under section 427 as originally enacted.
(2)The market value of the shares is artificially low where it has been reduced by at least 10% as a result of things done otherwise than for genuine commercial purposes within the period beginning—
(a)7 years before the chargeable event, or
(b)with 16th April 2003,
whichever is later.
(3)There is a chargeable event in relation to shares if section 427 (as originally enacted) applies in relation to them.
(4)The reference in the definition of MV in section 428(1) (as originally enacted) to the market value of the employee’s interest is to what would be the market value but for the reduction as a result of the things done as mentioned in subsection (2).
(5)Expressions used in this section and in Chapter 2 of this Part as originally enacted have the same meaning in this section as in that Chapter.]
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