SCHEDULES
SCHEDULE 5Enterprise management incentives
Part 8Supplementary provisions
Power to require information
51
1
The Inland Revenue may by notice require a person to provide them with information—
a
which they reasonably require for the performance of their functions under the EMI code, and
b
which the person to whom the notice is addressed has or can reasonably obtain.
2
The power conferred by this paragraph extends, in particular, to information to enable the Inland Revenue—
a
to decide whether a share option is a qualifying option, or
b
to determine the liability to tax, including capital gains tax, of any person who has been granted a qualifying option.
3
The notice must require the information to be provided within a specified period, which must not end earlier than 3 months after the date when the notice is given.