http://www.legislation.gov.uk/ukpga/2003/1/section/497/2004-06-18
Income Tax (Earnings and Pensions) Act 2003
An Act to restate, with minor changes, certain enactments relating to income tax on employment income, pension income and social security income; and for connected purposes.
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Statute Law Database
2024-06-06
Expert Participation
2004-06-18
Income Tax (Earnings and Pensions) Act 2003
s. 452(2)(aa)
Finance Act 2013
Sch. 23
para. 11
Sch. 23
para. 38
art. 2
Income Tax (Earnings and Pensions) Act 2003
s. 707A
Finance Act 2024
s. 36(4)
s. 36(5)
Part 7F1Employment income: income and exemptions relating to securities
Annotations:
Amendments (Textual)
Chapter 6Approved share incentive plans
Tax advantages connected with shares ceasing to be subject to plan
497Limitations on charges on shares ceasing to be subject to plan
1
No liability to income tax arises on free or matching shares ceasing to be subject to the plan, except as provided by—
a
section 505 (charge on free or matching shares ceasing to be subject to plan), or
b
section 507 (charge on disposal of beneficial interest during holding period).
2
No liability to income tax arises on partnership shares ceasing to be subject to the plan, except as provided by section 506 (charge on partnership shares ceasing to be subject to plan).
3
No liability to income tax arises on dividend shares ceasing to be subject to the plan, except as provided by section 68B(2) or 251C(1) of ICTA (charge under Case V of Schedule D or Schedule F on dividend shares ceasing to be subject to plan).
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)