SCHEDULES

SCHEDULE 2Employee securities: anti-avoidance

Restricted securities

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1

In section 428 (amount of charge under section 426), after subsection (9) insert—

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But subsection (9) does not apply if something which affects the employment-related securities has been done (at or before the time of the chargeable event) 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 428(10) of ITEPA 2003 has been done on or after 2nd December 2004.