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There are currently no known outstanding effects for the Finance Act 2004, Section 195.
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(1)For the purposes of sections 188 to 194 (relief for contributions) references to contributions paid by an individual include contributions made in the form of the transfer by the individual of eligible shares in a company within the permitted period.
(2)For the purposes of those sections the amount of a contribution made by way of a transfer of shares is the market value of the shares at the date of the transfer.
(3)“ ”, in relation to a contribution made by an individual, means shares—
(a)which the individual has exercised a right to acquire in accordance with the provisions of an SAYE option scheme, or
(b)which have been appropriated to the individual in accordance with the provisions of a share incentive plan.
(4)“The permitted period”—
(a)in relation to shares which the individual has exercised a right to acquire in accordance with the provisions of an SAYE option scheme, is the period of 90 days following the exercise of that right, and
(b)in relation to shares which have been appropriated to the individual in accordance with the provisions of a share incentive plan, is the period of 90 days following the date when the individual directed the trustees of the share incentive plan to transfer the ownership of the shares to the individual.
(5)In this section—
“SAYE option scheme” has the same meaning as in the SAYE code (see section 516 of ITEPA 2003 (F1... SAYE option schemes)), and
“F2... share incentive plans)).
” has the same meaning as in the SIP code (see section 488 of ITEPA 2003 (Textual Amendments
F1Word in s. 195(5) omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 139, 146 (with Sch. 8 paras. 147-157)
F2Word in s. 195(5) omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 52, 89 (with Sch. 8 paras. 90-96)
Modifications etc. (not altering text)
C1Pt. 4 applied (21.7.2009) by Finance Act 2009 (c. 10), Sch. 35 para. 18
Commencement Information
I1Ss. 160-274, 281, Schs. 30-35 in force at 6.4.2006 but any power to make an order or regulations under those provisions may be exercised at any time after Royal Assent, see s. 284
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