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Income Tax (Earnings and Pensions) Act 2003
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Income Tax (Earnings and Pensions) Act 2003, Section 543 is up to date with all changes known to be in force on or before 26 February 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.
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543Discount not covered by exemption in section 542U.K.
This section has no associated Explanatory Notes
(1)This section applies if the total of—
(a)the price payable by the director or employee for the shares of the company allocated to the director or employee under the offer, and
(b)the amount or value of any registrant discount made to the director or employee in respect of the shares,
is less than the fixed price or the lowest price successfully tendered.
(2)Section 542(2) (exemption: offer made to public and employees) does not apply to the benefit (if any) represented by the difference.
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