Part 1 Income Tax Treatment of Employee Shareholder Shares
Finance Act 2013 (2013 c 29) | Legislation

SCHEDULE 23 Employee Shareholder Shares

Section 55

Part 1 Income Tax Treatment of Employee Shareholder Shares

1

ITEPA 2003 is amended in accordance with paragraphs 2 to 15.

2

In section 19(2) (time of receipt of non-money earnings), at the appropriate place insert—

“section 226A (amount treated as earnings: employee shareholder shares).â€

3

In Chapter 12 of Part 3, after section 226 insert—

“Shares of employee shareholders
226A Amount treated as earnings

(1)     This section applies if shares having a market value of no less than £2000 are acquired by an employee in consideration of an employee shareholder agreement.

(2)     An amount calculated in accordance with subsection (3) is to be treated as earnings from the employment, in respect of the acquisition of the shares, for the tax year in which they are acquired.

But this is subject to subsection (4).

(3)     The amount is—

MV - P

·É³ó±ð°ù±ð—

(a)     MV is an amount equal to the market value of the shares;

(b)     P is any payment the employee is treated as making for the shares under section 226B.

But if P exceeds MV, the amount is nil.

(4)     If the shares are acquired pursuant

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Reversionary lease by reference

 LR1. Date of the lease[date]LR2. Title Number(s)LR2.1 Landlord's title number(s)[title numbers out of which this Lease is granted. Leave blank if not registered]LR2.2 Other title numbers[existing title number(s) against which entries of matters referred to in LR9, LR10, LR11 and LR13 are to be

LEXISNEXIS

False imprisonment

False imprisonmentLiabilityFalse imprisonment consists of the complete deprivation of liberty without a lawful basis. Claims will in practice be made against a public body that exercises detention powers, usually a local police force, the Secretary of State for the Home Department or the Secretary

LEXISNEXIS

Liquidated damages in construction contracts

Liquidated damages in construction contractsThis Practice Note explains what liquidated and ascertained damages (LADs/LDs) are and their purpose in a building contract. It considers the difference between liquidated damages and general (or unliquidated) damages and looks at the enforceability of

LEXISNEXIS

Fraud by false representation

Fraud by false representationFraud by false representationFraud by false representation applies to a broader range of conduct than the offences under the preceding legislation (the Theft Act 1968 (TA 1968)). No gain or loss need actually be made, and no deception need operate on the mind of the