http://www.legislation.gov.uk/ukpga/1988/39/part/III/chapter/II/crossheading/supplementary/2008-07-21Finance Act 1988An Act to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with Finance.1988-07-29texttext/xmlenStatute Law Database2024-05-23Expert Participation2008-07-21 Part III Income Tax, Corporation Tax and Capital Gains Tax chapter II Unapproved Employee Share Schemes Supplementary Meaning of “dependent subsidiary”.86. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other interpretation provisions.87. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Transitional provisions.88. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Consequential amendments.89In relation to acquisitions of shares or interests in shares on or after 26th October 1987—afor the words from “section 138(1)(a)” to “value of the shares” in ... section 186(2)(b) (approved profit sharing schemes) of the Taxes Act 1988, andb. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .there shall be substituted the words “ section 78 or 79 of the Finance Act 1988 in respect of the shares ”.Pt. III Ch. II (ss. 77-89) applied (6.3.1992 with effect as mentioned in s. 289 of the applying Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 120(1), 289, (with ss. 60, 101(1), 171, 201(3))Ss. 77-88 repealed (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), s. 723, Sch. 8 Pt. 1 (with Sch. 7)Words in s. 89(a) repealed (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), s. 723, Sch. 8 Pt. 1 (with Sch. 7)S. 89(b) repealed (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), s. 723, Sch. 8 Pt. 1 (with Sch. 7)
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<Number>Part III</Number>
<Title> Income Tax, Corporation Tax and Capital Gains Tax</Title>
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chapter II
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<Title> Unapproved Employee Share Schemes</Title>
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<Title> Supplementary</Title>
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<Title> Meaning of “dependent subsidiary”.</Title>
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86
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<Text>. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .</Text>
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<Title> Other interpretation provisions.</Title>
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87
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<Text>. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .</Text>
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<Title> Transitional provisions.</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/1988/39/section/88/2008-07-21" IdURI="http://www.legislation.gov.uk/id/ukpga/1988/39/section/88" id="section-88">
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88
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<P1para>
<Text>. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .</Text>
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<P1group RestrictStartDate="2003-04-06" RestrictExtent="E+W+S+N.I.">
<Title> Consequential amendments.</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/1988/39/section/89/2008-07-21" IdURI="http://www.legislation.gov.uk/id/ukpga/1988/39/section/89" id="section-89">
<Pnumber>89</Pnumber>
<P1para>
<Text>In relation to acquisitions of shares or interests in shares on or after 26th October 1987—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1988/39/section/89/a/2008-07-21" IdURI="http://www.legislation.gov.uk/id/ukpga/1988/39/section/89/a" id="section-89-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>
for the words from “section 138(1)(a)” to “
<Term id="term-value-of-the-shares">value of the shares</Term>
” in
<CommentaryRef Ref="key-f6b20133fbf5e7993871808a2e71fa6f"/>
... section 186(2)(b) (approved profit sharing schemes) of the Taxes Act 1988, and
</Text>
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<CommentaryRef Ref="key-887c1612fe9e21a826f7cbbc56e38814"/>
b
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<P3para>
<Text>. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .</Text>
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<Text>
there shall be substituted the words
<InlineAmendment>“ section 78 or 79 of the Finance Act 1988 in respect of the shares ”</InlineAmendment>
.
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<Para>
<Text>
Pt. III Ch. II (ss. 77-89) applied (6.3.1992 with effect as mentioned in s. 289 of the applying Act) by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1992/12" id="c00395" Year="1992" Class="UnitedKingdomPublicGeneralAct" Number="12" Title="Taxation of Chargeable Gains Act 1992">Taxation of Chargeable Gains Act 1992 (c. 12)</Citation>
,
<CitationSubRef id="c00396" CitationRef="c00395" URI="http://www.legislation.gov.uk/id/ukpga/1992/12/section/120/1" Operative="true" SectionRef="section-120-1">ss. 120(1)</CitationSubRef>
,
<CitationSubRef id="c00397" CitationRef="c00395" URI="http://www.legislation.gov.uk/id/ukpga/1992/12/section/289" SectionRef="section-289">289</CitationSubRef>
, (with ss. 60, 101(1), 171, 201(3))
</Text>
</Para>
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<Commentary id="key-0de71634d2f60cf10e6ad75820151756" Type="F">
<Para>
<Text>
Ss. 77-88 repealed (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2003/1" id="criimbmz2-00006" Class="UnitedKingdomPublicGeneralAct" Year="2003" Number="1" Title="Income Tax (Earnings and Pensions) Act 2003">Income Tax (Earnings and Pensions) Act 2003 (c. 1)</Citation>
,
<CitationSubRef id="criimbmz2-00007" CitationRef="criimbmz2-00006" URI="http://www.legislation.gov.uk/id/ukpga/2003/1/section/723" SectionRef="section-723">s. 723</CitationSubRef>
,
<CitationSubRef id="criimbmz2-00008" CitationRef="criimbmz2-00006" URI="http://www.legislation.gov.uk/id/ukpga/2003/1/schedule/8/part/1" SectionRef="schedule-8-part-1" Operative="true">Sch. 8 Pt. 1</CitationSubRef>
(with
<CitationSubRef id="criimbmz2-00009" CitationRef="criimbmz2-00006" URI="http://www.legislation.gov.uk/id/ukpga/2003/1/schedule/7" SectionRef="schedule-7">Sch. 7</CitationSubRef>
)
</Text>
</Para>
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<Para>
<Text>
Words in s. 89(a) repealed (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2003/1" id="crijkpqg2-00007" Class="UnitedKingdomPublicGeneralAct" Year="2003" Number="1" Title="Income Tax (Earnings and Pensions) Act 2003">Income Tax (Earnings and Pensions) Act 2003 (c. 1)</Citation>
,
<CitationSubRef id="crijkpqg2-00008" CitationRef="crijkpqg2-00007" URI="http://www.legislation.gov.uk/id/ukpga/2003/1/section/723" SectionRef="section-723">s. 723</CitationSubRef>
,
<CitationSubRef id="crijkpqg2-00009" CitationRef="crijkpqg2-00007" URI="http://www.legislation.gov.uk/id/ukpga/2003/1/schedule/8/part/1" SectionRef="schedule-8-part-1" Operative="true">Sch. 8 Pt. 1</CitationSubRef>
(with
<CitationSubRef id="crijkpqg2-00010" CitationRef="crijkpqg2-00007" URI="http://www.legislation.gov.uk/id/ukpga/2003/1/schedule/7" SectionRef="schedule-7">Sch. 7</CitationSubRef>
)
</Text>
</Para>
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<Para>
<Text>
S. 89(b) repealed (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2003/1" id="crijkpqg2-00015" Class="UnitedKingdomPublicGeneralAct" Year="2003" Number="1" Title="Income Tax (Earnings and Pensions) Act 2003">Income Tax (Earnings and Pensions) Act 2003 (c. 1)</Citation>
,
<CitationSubRef id="crijkpqg2-00016" CitationRef="crijkpqg2-00015" URI="http://www.legislation.gov.uk/id/ukpga/2003/1/section/723" SectionRef="section-723">s. 723</CitationSubRef>
,
<CitationSubRef id="crijkpqg2-00017" CitationRef="crijkpqg2-00015" URI="http://www.legislation.gov.uk/id/ukpga/2003/1/schedule/8/part/1" SectionRef="schedule-8-part-1" Operative="true">Sch. 8 Pt. 1</CitationSubRef>
(with
<CitationSubRef id="crijkpqg2-00018" CitationRef="crijkpqg2-00015" URI="http://www.legislation.gov.uk/id/ukpga/2003/1/schedule/7" SectionRef="schedule-7">Sch. 7</CitationSubRef>
)
</Text>
</Para>
</Commentary>
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