Point in time view as at 08/02/2023.
Finance Act 2003, Paragraph 39 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.
39(1)In section 538 (share conversions excluded for purposes of section 536), for subsection (4) substitute—U.K.
“(4)In this section—
“associated company” has the same meaning as, by virtue of section 416 of ICTA, it has for the purposes of Part 11 of ICTA,
“director” has the same meaning as in the benefits code (see section 67) but also includes a person who is to be or has been a director,
“employee” includes a person who is to be or has been an employee, and
“employee-controlled” has the same meaning as in Chapters 1 to 4 of this Part (see section 421H(1)).”.
(2)Sub-paragraph (1) has effect on and after the day appointed under paragraph 3(2).
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