C1Part 12Other relief for employee share acquisitions
Annotations:
Modifications etc. (not altering text)
Chapter 4Additional relief in cases involving restricted shares
1026Relief available on occurrence of chargeable event
1
This section applies in relation to relief available as a result of the occurrence of a chargeable event.
2
The relief is given for the accounting period in which the chargeable event occurs.
3
The amount of relief is equal to the amount that counts as employment income of the employee under section 426 of ITEPA 2003 in relation to the chargeable event.
4
For the purposes of subsection (3) the following are to be ignored—
a
any relief under section 428A of ITEPA 2003,
b
section 446E(6) of ITEPA 2003, and
c
the amount of any non-commercial increase (as defined in section 446K(4) of ITEPA 2003) in the market value of the restricted shares after their acquisition.
F15
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Pt. 12 applied by 2010 c. 8, s. 425(5) (as inserted (with effect in accordance with Sch. 5 para. 25(1)-(3) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 5 para. 1 (with Sch. 5 paras. 27, 32-34))