Income Tax (Earnings and Pensions) Act 2003U.K.
This section has no associated Explanatory Memorandum
355.—(1) Paragraph 56 (determination of market value of shares) is amended as follows.
(2) In sub-paragraph (4) for “the company may give an officer of Revenue and Customs a notice requiring the question of the market value of the shares to be referred to the Commissioners” substitute “the company may apply to the tribunal for the question of the market value of the shares to be determined”.
(3) Omit sub-paragraph (5).
(4) For sub-paragraph (6) substitute—
“(6) Any such application is to be subject to the relevant provisions of Part 5 of TMA 1970 (see, in particular, section 48(2)(b) of that Act).”.
Commencement Information
I1Sch. 1 para. 355 in force at 1.4.2009, see art. 1(2)