[431 Election for full or partial disapplication of this Chapter]
Income Tax (Earnings and Pensions) Act 2003 (2003 c 1) | Legislation

[431  Election for full or partial disapplication of this Chapter]

[(1)     The employer and the employee may elect in relation to employment-related securities which are restricted securities or a restricted interest in securities that—

(a)     for the relevant tax purposes their market value at the time of the acquisition is to be calculated as if they were not, and

(b)     sections 425 to 430 are not to apply to the employment-related securities.

(2)     Or the employer and the employee may elect in relation to employment-related securities which are restricted securities or

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