[554N Exclusions: other cases involving employment-related securities etc]
Income Tax (Earnings and Pensions) Act 2003 (2003 c 1) | Legislation

[554N  Exclusions: other cases involving employment-related securities etc]

[(1)     Chapter 2 does not apply by reason of a relevant step the subject of which is employment-related securities if—

(a)     by virtue of the step, the securities are acquired by a person, and

(b)     section 425(2) applies. . . to the acquisition.

(2)     Chapter 2 does not apply by reason of a relevant step the subject of which is an employment-related securities option if—

(a)     by virtue of the step, the option is acquired by a person, and

(b)     section 475(1) applies. . . to the acquisition.

(3)     Terms used in subsection (1) or (2) have the same meaning as they have in Chapter 2 or 5 of Part 7 (as the case may be).

(4)     Chapter 2 does not apply by reason of an event within subsection (5) if by virtue of the event an amount counts as employment income of A in respect of A's employment with B.

(5)     The events within this subsection are—

(a)     a chargeable event for the purposes of section 426, 438 or 476,

(b)     an event which gives rise to the discharge of a notional loan for the purposes of section 446U, or

(c)     a disposal

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Directors’ remuneration

Directors’ remunerationCompany directors are not, by virtue only of their office as director, automatically entitled under company law to remuneration for services as a director or to reimbursement of expenses incurred in rendering such services. Power to pay directors remuneration for their

LEXISNEXIS

Sentencing for rape

Sentencing for rapeThe Sentencing Council (SC) produces guidance on sentencing for courts in England and Wales in the form of offence specific sentencing guidelines for use in the magistrates’ court and the Crown Court. This Practice Note considers the approach to sentencing for the offences of rape

LEXISNEXIS

Legal Services Board

Legal Services BoardThe Legal Services Board (LSB) is the single independent oversight regulator of the legal profession and sector in England and Wales. It does not directly regulate individual lawyers and, in most circumstances, will not directly regulate firms.Mandate and structureThe LSB is the

LEXISNEXIS

What happens when a client receives a custodial sentence?

What happens when a client receives a custodial sentence?This Practice Note reflects the procedural code for sentencing offenders in England and Wales (Sentencing Code) that applies from 1 December 2020, as set out in Parts 2–13 of the Sentencing Act 2020 (SA 2020). For those considering whether the