510 Payments by trustees to employer company on shares ceasing to be subject to plan
Income Tax (Earnings and Pensions) Act 2003 (2003 c 1) | Legislation

510  Payments by trustees to employer company on shares ceasing to be subject to plan

(1)     This section applies if, as a result of any shares (“the relevant shares”) ceasing to be subject to [a Schedule 2] SIP—

(a)     there is an amount that counts as employment income of a participant by virtue of the SIP code, and

(b)     an obligation to make a PAYE deduction arises in respect of that amount.

(2)     The

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