http://www.legislation.gov.uk/ukpga/2003/1/schedule/2/paragraph/78/2010-01-01
Income Tax (Earnings and Pensions) Act 2003
An Act to restate, with minor changes, certain enactments relating to income tax on employment income, pension income and social security income; and for connected purposes.
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Statute Law Database
2024-06-06
Expert Participation
2010-01-01
Income Tax (Earnings and Pensions) Act 2003
s. 452(2)(aa)
Finance Act 2013
Sch. 23
para. 11
Sch. 23
para. 38
art. 2
Income Tax (Earnings and Pensions) Act 2003
s. 707A
Finance Act 2024
s. 36(4)
s. 36(5)
SCHEDULES
SCHEDULE 2Approved share incentive plans
Part 9Trustees
Acquisition by trustees of shares from employee share ownership trust
78
1
The trust instrument must provide that, where there is a qualifying transfer of shares to the trustees, the shares—
a
must not be awarded to participants under the plan as partnership shares, and
b
must be included in any award of free or matching shares made after the date of the transfer in priority to other shares available for inclusion in that award.
2
For the purposes of this paragraph there is a qualifying transfer of shares to the trustees if—
a
relevant shares (as defined by section 69(3AC) of FA 1989) are transferred to them by the trustees of an employee share ownership trust, and