[F2446NSecurities subject to restriction during relevant periodU.K.
(1)This section applies where the employment-related securities have been restricted securities or a restricted interest in securities at any time during the relevant period.
(2)DA is to be deducted from the amount determined under section 446L(4) (or, where section 446M applies, the amount determined under sections 446L(4) and 446M).
(3)DA is the aggregate of the amounts arrived at under subsection (4) in relation to each event occurring during the relevant period that is a chargeable event in relation to the employment-related securities.
(4)The amount is—
(5)TA is the taxable amount actually determined under section 428 in relation to the chargeable event.
(6)AR TA is the taxable amount which would have been determined under section 428 in relation to the chargeable event if any non-commercial increases during the period—
(a)beginning at the same time as the relevant period, and
(b)ending immediately before the chargeable event,
had been disregarded.]
Textual Amendments
F2Pt. 7 Ch. 3B inserted (16.4.2003 with effect in accordance with Sch. 22 para. 6(2)-(4) of the amending Act) by Finance Act 2003 (c. 14), Sch. 22 para. 6(1)