SCHEDULES

SCHEDULE 5Enterprise management incentives

Part 8Supplementary provisions

Power to require information

51

1

F1An officer of Revenue and Customs may by notice require a person to provide F2the officer with information—

a

which F2the officer reasonably F4requires for the performance of F3the officer's 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 F1an officer of Revenue and Customs —

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.