SCHEDULES

SCHEDULE 21Approved share plans and schemes

Part 3CSOP schemes

PAYE

18

1

Section 701(2)(c) (PAYE: exclusions from meaning of “asset”) is amended as follows.

2

In sub-paragraph (i), omit “or 4 (approved CSOP schemes)”.

3

After that sub-paragraph insert—

ia

any shares acquired by the employee (whether or not as a result of the exercise of a right to acquire shares) under a scheme approved under Schedule 4 (approved CSOP schemes), other than shares acquired as a result of the exercise of the right before the third anniversary of the date on which it was granted or later than the tenth anniversary of that date;

F14

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

5

This paragraph has effect in relation to shares acquired on or after 9th April 2003.