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Income Tax (Earnings and Pensions) Act 2003
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- UK Public General Acts
- 2003 c. 1
- SCHEDULE 2
- Part 5
- Paragraph 39
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Performance allowances: targets and measures
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39(1)A plan that provides for performance allowances must comply with the following requirements with respect to performance targets and performance measures.
(2)The performance targets must be set for performance units comprising one or more employees.
(3)The performance measures used must—
(a)be based on business results or other objective criteria, and
(b)be fair and objective measures of the performance of the units to which they are or may be applied.
(4)For the purposes of an award of free shares under the plan an employee must not be a member of more than one performance unit.
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