Version Superseded: 06/04/2014
Point in time view as at 17/07/2013.
Income Tax (Earnings and Pensions) Act 2003, Cross Heading: Scope of tax charges is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
(1)Sections 501 to 508 apply for income tax purposes in connection with shares awarded under an approved SIP.
(2)But those sections do not apply to an individual if, at the time of the award of shares in question, the earnings from the eligible employment are not (or would not be if there were any) general earnings to which any of the charging provisions of Chapter 4 or 5 of Part 2 apply.
(3)“The eligible employment” means the employment which results in the individual meeting the employment requirement in relation to the plan.
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