C1Part 7F1Employment income: income and exemptions relating to securities

Annotations:
Amendments (Textual)
F1

Pt. 7 heading substituted (with effect in accordance with Sch. 22 para. 2(2) of the amending Act) by Finance Act 2003 (c. 14), Sch. 22 para. 2(1)

Modifications etc. (not altering text)
C1

Pt. 7: power to modify conferred (7.4.2005) by Finance Act 2005 (c. 7), s. 21(8)-(10)

Chapter 6Approved share incentive plans

Tax advantages connected with award of shares

490No charge on award or acquisition of shares: general

1

This section applies—

a

on the award to an employee of free, matching or partnership shares under the plan, or

b

on the acquisition on behalf of an employee of dividend shares under the plan.

2

The employee is not liable to income tax on the value of the beneficial interest in the shares that passes to the employee at the time of the award or acquisition.