Income Tax (Earnings and Pensions) Act 2003 (c. 1)

Part 7 U.K. Employment income: share-related income and exemptions

Chapter 6 U.K. Approved share incentive plans

Tax advantages connected with award of shares U.K.

491 No charge on award of shares as taxable benefit U.K.

An employee is not liable to income tax by virtue of Chapter 8 of Part 3 (taxable benefits: notional loans in respect of acquisitions of shares) in respect of an award of shares to the employee under the plan.