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Finance Act 2003
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Changes over time for: Paragraph 14
Version Superseded: 01/04/2009
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Finance Act 2003, Paragraph 14 is up to date with all changes known to be in force on or before 20 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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[F114(1)It must be the case that the acquisition of shares pursuant to the option—U.K.
(a)is a chargeable event in relation to the employee for the purposes of section 476 of the Income Tax (Earnings and Pensions) Act 2003 (whether or not an amount counts as employment income by virtue of that event), or
(b)would be such a chargeable event in relation to the employee if the conditions specified in sub-paragraph (2) were met.
(2)The conditions mentioned in sub-paragraph (1)(b) are—
(a)that the employee was resident and ordinarily resident in the United Kingdom at all material times, and
(b)that the duties of the employment by reason of which the option was granted were performed in the United Kingdom at all material times.]
Textual Amendments
F1Sch. 23 para. 14 and crossheading substituted (1.9.2003) by Finance Act 2003 (c. 14), Sch. 22 para. 65; S.I. 2003/1997, art. 2
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