Part 3Income tax, corporation tax and capital gains tax
Chapter 4Personal taxation
Employment-related securities and options
90Associated persons etc.
1
Part 7 of the Income Tax (Earnings and Pensions) Act 2003 (employment income: securities) is amended as follows.
2
In section 421C(2)
(meaning of “relevant linked person” for purposes of Chapters 1 to 4), for “are connected or, although not connected, are” substitute “
are or have been connected or (without being or having been connected) are or have been
”
.
3
In section 472(2)
(meaning of “relevant linked person” for purposes of Chapter 5), for “are connected or, although not connected, are” substitute “
are or have been connected or (without being or having been connected) are or have been
”
.
4
In section 477(3)(c)
(chargeable events in relation to employment-related securities options), for the words after “benefit” substitute “
in connection with the employment-related securities option (other than one within paragraph (a) or (b)).
”
5
This section has effect on and after 18th June 2004 and applies in relation to securities, interests and options that were employment-related securities or employment-related securities options on that date (as well as those acquired on or after that date).