SCHEDULE 1Minor and consequential amendments
Part 2Other enactments
Income Tax (Earnings and Pensions) Act 2003
399
(1)
Amend Schedule 5 (enterprise management incentives) as follows.
(2)
In paragraph 10(3) for “section 416(2) to (6) of ICTA” substitute “
sections 450 and 451 of CTA 2010
”
.
(3)
“(3)
In sub-paragraph (2) “property deriving its value from land” has the meaning given by section 188(3) of ITA 2007.”
(4)
In paragraph 23—
(a)
in sub-paragraph (4)(c)—
(i)
for “section 344(2) of ICTA (company reconstructions: supplemental)” substitute “
section 942 of CTA 2010 (options for purposes of ownership condition)
”
, and
(ii)
for the words from “section 343” to the end substitute “
section 941 of that Act (trade transfers without change of ownership: ownership condition)
”
,
(b)
in sub-paragraph (6) for “section 416(2) to (6) of ICTA” substitute “
sections 450 and 451 of CTA 2010
”
,
(c)
in sub-paragraph (8) in the definition of “associate”—
(i)
for “in section 417(3) and (4) of ICTA” substitute “
by section 448 of CTA 2010
”
, and
(ii)
for “those subsections as they apply” substitute “
that section as it applies
”
, and
(d)
in sub-paragraph (8) in the definition of “director” for “section 417(5) of ICTA” substitute “
section 452 of CTA 2010
”
.
(5)
In paragraph 29(4)—
(a)
in the definition of “close company”—
(i)
for “section 414(1)(a) of ICTA” substitute “
section 442(a) of CTA 2010
”
,
(ii)
for “section 415 of ICTA” substitute “
sections 446 and 447 of CTA 2010
”
, and
(b)
in the definition of “participator” for “section 417(1) of ICTA” substitute “
section 454 of CTA 2010
”
.
(6)
In paragraph 59 in the entry for “tax”, in the second column, for “section 832(3) of ICTA (as applied by section 989 of ITA 2007)” substitute “
section 989 of ITA 2007
”
.