Part 1 Retirement of Participants

SCHEDULE 2 Tax Advantaged Employee Share Schemes

Section 14

Part 1 Retirement of Participants

Introduction

1

Part 7 of ITEPA 2003 (employment income: income and exemptions relating to securities) is amended as follows.

Share incentive plans

2

In section 498 (no charge on shares ceasing to be subject to plan in certain circumstances) in subsection (2)(e) omit the words from “on†to “2)â€.

3

In Part 4 of Schedule 2 (types of shares that may be awarded) in paragraph 32 (provision for forfeiture) in sub-paragraph (2)(e) omit the words from “on†to “98)â€.

4

Part

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