SCHEDULES
SCHEDULE 8Employee share schemes
PART 1Share incentive plans
Amendments to Chapter 6 of Part 7 of ITEPA 2003
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1
Paragraph 56 (repayment of partnership share money) is amended as follows.
2
In sub-paragraph (1) for “approval of the plan is withdrawn (see paragraph 83)” substitute “
plan is not to be a Schedule 2 SIP by virtue of paragraph 81H or 81I
”
.
3
In sub-paragraph (2) for the words from “notice” to the end substitute “
the relevant day
”
.
4
After sub-paragraph (2) insert—
2A
If the plan is not to be a Schedule 2 SIP by virtue of paragraph 81H, in sub-paragraph (2) “the relevant day” means—
a
the last day of the period in which notice of an appeal under paragraph 81K(2)(a) may be given, or
b
if notice of such an appeal is given, the day on which the appeal is determined or withdrawn.
2B
If the plan is not to be a Schedule 2 SIP by virtue of paragraph 81I, in sub-paragraph (2) “the relevant day” means—
a
the last day of the period in which notice of an appeal under paragraph 81K(3) may be given, or
b
if notice of such an appeal is given, the day on which the appeal is determined or withdrawn.