SCHEDULES

SCHEDULE 2Employee securities: anti-avoidance

19Post-acquisition benefits from securities

1

In section 449 (exception from charge under section 447 for certain company shares), for subsection (1A) substitute—

1A

This subsection is satisfied unless something which affects the employment-related securities has been done as part of a scheme or arrangement the main purpose (or one of the main purposes) of which is the avoidance of tax or national insurance contributions.

2

This paragraph has effect where something such as is mentioned in section 449(1A) of ITEPA 2003 has been done on or after 2nd December 2004.