Part 3 Corporation Tax
Finance Act 2013 (2013 c 29) | Legislation

Part 3 Corporation Tax

21

CTA 2009 is amended as follows.

22

In section 1005 (definitions), at the appropriate place insert—

““employee shareholder share” has the meaning given by section 226A(6) of ITEPA 2003,”.

23

(1)     Section 1009 (relief for employee share acquisitions: employee's tax position) is amended as follows.

(2)     In subsection (2)(a), for “earnings within Chapter 1 of Part 3 of ITEPA 2003” substitute “relevant earnings”.

(3)     After subsection (2) insert—

“(2A)     Relevant earnings” means—

(a)     earnings within Chapter 1 of Part 3 of ITEPA 2003, and

(b)     any amount that is treated as earnings by virtue of section 226A of that Act (employee shareholder shares).”

(4)     After subsection (5) insert—

“(6)     Where the shares are employee shareholder shares, this section is subject to section 1038B.”

24

In section 1010(1) (acquisition of shares: relief if shares neither restricted nor convertible), after “section 1012” insert “and, in the case of employee shareholder shares, section 1038B”.

25

(1)

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