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Changes over time for: Section 447


Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 17/12/2014.
Changes to legislation:
Income Tax (Earnings and Pensions) Act 2003, Section 447 is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.

Changes to Legislation
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[447Charge on other chargeable benefits from securitiesU.K.
This section has no associated Explanatory Notes
(1)This Chapter applies if an associated person receives a benefit [in connection with employment-related securities] .
(2)The taxable amount determined under section 448 counts as employment income of the employee for the relevant tax year.
(3)The “relevant tax year” is the tax year in which the benefit is received.
(4)[If the benefit is otherwise chargeable to income tax this section does not apply unless something has been done which affects the employment-related securities as part of a scheme or arrangement the main purpose (or one of the main purposes) of which is the avoidance of tax or national insurance contributions.]
(5)This section is subject to section 449 (case outside this Chapter).]
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