545 Discount not covered by exemption in section 544
Income Tax (Earnings and Pensions) Act 2003 (2003 c 1) | Legislation

545  Discount not covered by exemption in section 544

(1)     This section applies if the total of—

(a)     the price payable by the director or employee for the shares of a company allocated to the director or employee under the employee offer, and

(b)     the amount or value of any registrant discount made to the director or employee in respect of the shares,

is not the same as, or as near as reasonably practicable to, the appropriate notional price for the shares of the company.

(2)     Section

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