SCHEDULES

SCHEDULE 5U.K.Enterprise management incentives

Part 8U.K.Supplementary provisions

Power to require informationU.K.

51(1)[F1An officer of Revenue and Customs] may by notice require a person to provide [F2the officer] with information—U.K.

(a)which [F2the officer] reasonably [F3requires] for the performance of [F4the 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.