- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
3(1)Chapter 5 of Part 7 of the Income Tax (Earnings and Pensions) Act 2003 (c. 1) (employment income: securities options) is amended as follows.
(2)In section 476 (charge on occurrence of chargeable event), for subsections (1) to (4) substitute—
“(1)If a chargeable event occurs in relation to an employment-related securities option, the taxable amount counts as employment income of the employee for the relevant tax year.
(2)For this purpose—
(a)“chargeable event” has the meaning given by section 477,
(b)“the taxable amount” is the amount determined under section 478, and
(c)“the relevant tax year” is the tax year in which the chargeable event occurs.
(3)Relief under section 481 or 482 (relief for secondary Class 1 contributions or special contribution met by employee) may be available against an amount counting as employment income under this section.”.
(3)In section 480 (deductible amounts), omit subsection (7).
(4)In section 481 (deductible amount in respect of secondary Class 1 contributions met by employee)—
(a)in the heading for “Deductible amount in respect of” substitute “Relief for”;
(b)in subsection (1) for the opening words down to “if” substitute “Relief is available under this section against an amount counting as employment income under section 476 if”;
(c)in subsection (2) for the opening words down to “of” substitute “The amount of the relief is the total of”;
(d)after subsection (4) insert—
“(4A)Relief under this section is given by way of deduction from the amount otherwise counting as employment income.
(4B)Relief under this section does not affect the amount to be taken into account—
(a)as employment income in determining contributions payable under the Contributions and Benefits Act, or
(b)as relevant employment income for the purposes of paragraph 3A or 3B of Schedule 1 to that Act.”.
(5)In section 482 (deductible amount in respect of special contribution met by employee)—
(a)in the heading for “Deductible amount in respect of” substitute “Relief for”;
(b)in subsection (1) for the opening words down to “if” substitute “Relief is available under this section against an amount counting as employment income under section 476 if”;
(c)after subsection (5) add—
“(6)The amount of the relief is the amount of the liability referred to in subsection (4).
“7)Relief under this section is given by way of deduction from the amount otherwise counting as employment income.”.
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