SCHEDULES

SCHEDULE 5U.K.Enterprise management incentives

Part 7 U.K.Notification of option to Inland Revenue

AppealsU.K.

50(1)The employer company may appeal against a decision of the Inland Revenue—U.K.

(a)that notice of the grant of the option was not given in accordance with paragraph 44, or

(b)that the requirements of this Schedule are not met in relation to the option.

(2)An individual may appeal against a decision of the Inland Revenue that the individual does not meet the requirement of paragraph 26 (commitment of working time).

(3)Notice of the appeal must be given to the Inland Revenue within 30 days after the date when the closure notice is given to the appellant.

(4)The appeal lies—

(a)to the General Commissioners, or

(b)if the employer company or individual so elects (in accordance with section 46(1) of TMA 1970), to the Special Commissioners.