Finance Act 2014 (c. 26)

SCHEDULES

SCHEDULE 8 U.K. Employee share schemes

PART 2 U.K. SAYE option schemes

Amendments to Chapter 7 of Part 7 of ITEPA 2003 U.K.

116 (1) Paragraph 39 (requirements about share options granted in exchange) is amended as follows. U.K.

(2) In sub-paragraph (4)—

(a) in paragraph (c) for “equal” substitute “ be substantially the same as ”, and

(b) in paragraph (d) for “equal to” substitute “ substantially the same as ”.

(3) After sub-paragraph (7) insert—

“(8) For the purposes of this paragraph the market value of any shares is to be determined using a methodology agreed by Her Majesty's Revenue and Customs.”