SCHEDULES

SCHEDULE 23 U.K.Employee shareholder shares

PART 3 U.K.Corporation tax

23 (1) Section 1009 (relief for employee share acquisitions: employee's tax position) is amended as follows. U.K.

(2) In subsection (2)(a), for “earnings within Chapter 1 of Part 3 of ITEPA 2003” substitute “ relevant earnings ”.

(3) After subsection (2) insert—

“(2A) Relevant earnings” means—

(a) earnings within Chapter 1 of Part 3 of ITEPA 2003, and

(b) any amount that is treated as earnings by virtue of section 226A of that Act (employee shareholder shares).”

(4) After subsection (5) insert—

“(6) Where the shares are employee shareholder shares, this section is subject to section 1038B.”