Finance Act 2003 (c. 14)

SCHEDULES

SCHEDULE 23 U.K. Corporation tax relief for employee share acquisition

Part 5 U.K. Supplementary provisions

[F1 Acquisition of shares pursuant to option after death of employee or recipient U.K.

Textual Amendments

F1 Sch. 23 para. 27 and cross heading substituted (1.9.2003) by Finance Act 2003 (c. 14), Sch. 22 para. 72; S.I. 2003/1997, art. 2

27 (1) Where after the employee’s death shares are acquired by the recipient pursuant to an option obtained by reason of the employee’s employment, the condition in paragraph 14 (income tax position of the employee) is treated as met if it would be met were the employee still alive. U.K.

(2) Where after the death of the recipient shares are acquired pursuant to an option obtained by reason of the employee’s employment, paragraph 1(1)(b) and Parts 3, 4 and 4A of this Schedule, and sub-paragraph (1) above, apply as if the recipient were still alive and the shares were acquired by him.]