506 Charge on partnership shares ceasing to be subject to plan
Income Tax (Earnings and Pensions) Act 2003 (2003 c 1) | Legislation

506  Charge on partnership shares ceasing to be subject to plan

(1)     When partnership shares cease to be subject to the plan, there may be an amount that counts as employment income of the participant depending on the period that has elapsed between—

(a)     the acquisition date in respect of those shares (as defined by paragraph 50(4) or, as the case may be, paragraph 52(5) of Schedule 2), and

(b)     the date when they cease to be subject to the plan (“the exit date”).

(2)     If the period is less than 3 years, the [relevant amount] counts as employment income of the participant for the relevant tax year (see subsection (5)).

[(2A)     Subject to subsection (2B),

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