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Changes over time for: Section 449


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Point in time view as at 03/08/2005.
Changes to legislation:
Income Tax (Earnings and Pensions) Act 2003, Section 449 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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[449Case outside this ChapterU.K.
This section has no associated Explanatory Notes
(1)This Chapter does not apply if—
(a)the employment-related securities are shares (or an interest in shares) in a company of a class,
(b)a similar benefit is received by the owners of all the company’s shares of the class,
[(ba)subsection (1A) is satisfied,] and
(c)subsection (2) or (3) is satisfied.
[(1A)This subsection is satisfied unless something which affects the employment-related securities has been done 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.]
(2)This subsection is satisfied if, immediately before the receipt of the benefit, the company is employee-controlled by virtue of holdings of shares of the class.
(3)This subsection is satisfied if, immediately before the receipt of the benefit, the majority of the company’s shares of the class are not [employment-related securities.]
(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
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